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Innovative insurance products for the adaptation to climate change (IIPACC) project - Market development in Ghana

Source
Deutsche Gesellschaft für Internationale Zusammenarbeit
National Insurance Commission
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The impact of climate change on farming has contributed to the evolution of many agricultural insurance initiatives. In 2009, – on behalf of the German Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety (BMUB) – the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), together with the National Insurance Commission (NIC), launched the Innovative Insurance Products for the Adaptation to Climate Change (IIPACC) project in Ghana.

The IIPACC aimed to capacitate the insurance sector to develop innovative, demand-oriented and economically sustainable insurance products against the financial risks of extreme weather events. This set the basis for the first Ghana Agricultural Insurance Pool (GAIP). Currently, GAIP has three products in the market: 1. A drought Weather Index Insurance (WII) product for smallholder farmers 2. Multi-Peril Insurance for Poultry (MPIP) for commercial farmers 3. Multi-Peril Crop Insurance (MPCI) for commercial farmers.

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Document links last validated on: 23 December 2019

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Hazards Drought
Themes Climate change Private sector Risk identification and assessment Insurance and risk transfer Disaster risk management Inclusion
Country and region Ghana
Number of pages
2 p.
Publication year
2018

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