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Positive Step: Weather Insurance For India’s Beleaguered Farmer

In Business, Economy, Environment, India, People Making A Difference on June 9, 2009 at 8:55 am

Via Guardian: UN negotiators in Bonn this week are considering an innovative insurance scheme to protect farmers from failing crops from bad weather. Following a successful trial last month, MicroEnsure, a company specialising in providing insurance to poor communities, plans to launch a scheme next year for up to 600,000 farmers in India’s Kolhapur province allowing them to insure against their rice crops failing due to drought or heavy rains during the plants’ flowering period. The scheme, which is receiving funding from the Bill and Melinda Gates Foundation, will be promoted using comic books designed to explain visually how insurance works to farmers who have previously had no access to insurance cover. It will also be supported by finance from the Indian government that will effectively halve the price of premiums to around 2.5% of the value of the loan.


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