Insurance World

Africa: New Scheme To Be Launched Next Year To Mitigate Flood Losses

The African Risk Capacity (ARC) Group, a pan-African risk management insurance group, plans to launch a new product in 2021 to help member countries fight floods.

This product is already a pilot in Ivory Coast, Ghana, the Gambia and Togo and will be available to all member states, ARC says in a statement.

In addition, ARC, in collaboration with the Africa Centre for Disease Control and Prevention (Africa CDC) is working towards the development of COVID-19 modelling tools for Africa to enable member states to better manage this pandemic and assist the populations who need it most.

Furthermore, the gender issue in the context of disaster risk management is also among the flagship themes of the agency. Indeed, ARC has embraced a gender-sensitive approach in all its corporate activities as well as with its member states.

In this regard, ARC systematically integrates a gender perspective into its operations and policies in view of transforming disaster risk management approaches to achieve equality between vulnerable women and men in ARC’s member states.

ARC was established in 2012 as a specialised agency of the African Union to help African countries better anticipate and manage natural disasters. As such, ARC implements a disaster risk financing mechanism to help member states improve their capacities to better plan, prepare, and respond to climate change, thus protecting food security.

Through its financial affiliate, ARC Limited, ARC enables its member countries to have adequate financial resources so that the first form of assistance to the populations in the event of disasters comes from the state and from the sovereign insurance offered by ARC.

Source MEIR


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