The African Risk Capacity (ARC) will make at least a US $14.2 million payout to benefit the people of Malawi, after the country’s parametric drought insurance coverage was triggered.
The climate insurance pay-out will be made by African Risk Capacity (ARC) Limited to the Malawian government in June, after the country experienced its driest season since 1981.
The Malawi Government had chosen to structure its parametric climate insurance coverage utilising cluster policies from the African Risk Capacity, so that it could more effectively cover different regions from drought this year.
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