African Risk Capacity Limited (ARC Ltd.), the financial affiliate and underwriting entity of the African Risk Capacity (ARC) Group, has entered into a landmark US $11.7 million partnership with the United States Government, to help expand access to parametric insurance and increase the size of its risk pool.
The goal is to further safeguard food security and strengthen climate resilience in Africa by increasing access to parametric insurance.
The partnership targets provision of parametric insurance to protect vulnerable smallholder farmers that are facing increasing climate change-related disasters, while at the same time helping African governments to better respond to climate risks.
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