The African Risk Capacity Insurance Company (ARC) has hosted a regional meeting to address the role of insurance in fighting climate change impacts on the African continent.
Representatives from ARC member states and funding donor partners met in Malawi to discuss how parametric insurance has the potential to transform how the continent deals with climate-change-induced events such as droughts and cyclones.
ARC has made a record payout of almost $60 million in claims this year, protecting Africa’s most vulnerable against the worst impacts of extreme weather.
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