A parametric insurance policy has been triggered to provide relief to nearly 120,000 people in Syria after one of the country’s worst droughts in half a century, through an initiative funded by Humanity Insured as part of a wider public–private partnership with the World Food Programme (WFP), the Global Shield Financing Facility, and support from Allianz
Triggered in June by satellite-monitored rainfall and vegetation data, the policy covers critical agricultural areas in Syria, with the $7.9 million payout providing immediate food assistance and essential supplies.
Allianz observed, “The humanitarian situation is dire in many developing countries, and Syria is one of the most vulnerable. A decade of civil war has left infrastructure in ruins, livelihoods shattered, and more than 3 million people suffering acute food insecurity.
FULL ORIGINAL PUBLICATION HERE