Swiss Re announced two major initiatives yesterday at the Clinton Global Initiative (CGI) Annual Meeting in New York.
In an effort to blunt the impact of cholera outbreak in Haiti, the company unveiled a new cholera insurance scheme aimed at the country’s women entrepreneurs. Working with Fonkoze, the country’s largest microfinance organization, Swiss Re will provide policies that ensure “real-time” payout once a pre-defined set of criteria, such as cholera-related hospital admissions and observable weather factors linked to cholera outbreaks are met. The initiative will build off of an existing catastrophe microinsurance product the company offers in Haiti.
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