Everand Logo

Welcome to Everand!

  • Discover millions of ebooks, audiobooks, and so much more with a free trial

    Only $11.99/month after trial. Cancel anytime.

    Insurance Against Covariate Shocks: The Role of Index-Based Insurance in Social Protection in Low-Income Countries of Africa
    Insurance Against Covariate Shocks: The Role of Index-Based Insurance in Social Protection in Low-Income Countries of Africa
    Insurance Against Covariate Shocks: The Role of Index-Based Insurance in Social Protection in Low-Income Countries of Africa
    Ebook48 pages56 minutes

    Insurance Against Covariate Shocks: The Role of Index-Based Insurance in Social Protection in Low-Income Countries of Africa

    By Harold Alderman and Trina Haque

    ()

    About this ebook

    Uninsured risk had far-reaching consequences for rural growth as well as poverty reduction. A range of informal mechanisms to insure rural households against the impact of shocks, but they are a modest component of a risk layering strategy for well-off households and even less protective for low-income households. Formal insurance mechanisms have inherent market imperfections. State interventions to address these limitations have proven costly and generally are targeted poorly. Recent developments in microfinance as well as in insurance marketing have opened new possibilities for household risk reduction. Index insurance, such as weather indexing, addresses other inherent problems in insurance by using an indicator that is not affected by individual behaviour and may address monitoring costs and moral hazard. A number of innovations using index insurance are being tried currently in diverse settings ranging from India to Mongolia to Malawi. Marketing costs may limit the provision of such insurance to small farmers, but even in such cases microfinance institutes may serve as market intermediaries. Moreover, state and submational governments can use insurance to achieve countercyclical funding programs. In this vein, municipal governments in Mexico have used insurance to finance disaster contingency while the World Food Program has insured a portion of its emergency assistance to Ethiopia. Humanitarian organizations and NGOs may also seek insurance in this manner.
    LanguageEnglish
    PublisherWorld Bank Publications
    Release dateMar 30, 2007
    ISBN9780821370360
    Insurance Against Covariate Shocks: The Role of Index-Based Insurance in Social Protection in Low-Income Countries of Africa

    Related to Insurance Against Covariate Shocks

    Related ebooks

    Economics For You

    View More
    View More

    Related podcast episodes

    Related articles

    • Article

      In Brief

      Jul 9, 2021

      – Trevor Manuel, former finance minister, said government’s response to the pandemic was imperfect and that some mishaps could have been avoided, while others were out of its control. Manuel was addressing the Centre for Development and Enterprise’s

      1 min read

    • Article

      5 Big Ideas For The White House's Global COVID Summit

      May 11, 2022

      We asked experts from around the world: What would they like to see on the agenda for this virtual event. Their ideas include fair pay for all health workers — and a makeover for foreign aid.

      3 min read

    • Article

      Science Has Delivered, But Will The WTO?

      Jan 6, 2021

      A PROPOSAL by India, South Africa and eight other countries calls on the World Trade Organization (WTO) to exempt member countries from enforcing some patents, and other intellectual property rights (IPRs) under the organisation’s agreement on trade-

      4 min read

    • Article

      Global Summit The World’s Financial Architecture Is Failing Africa

      Jun 25, 2023

      UN Secretary-General António Guterres recently sounded an ominous alarm bell. The Sustainable Development Goals (SDG), which aim to significantly reduce poverty around the world and create a better quality of life for all, are off track, he warned. A

      3 min read

    • Article

      Ambitious Task Ahead Of SA

      Jan 24, 2021

      SOUTH Africa will embark on an ambitious Covid-19 vaccine roll-out plan that will cost in excess of R20 billion with up to 31 000 vaccinations taking place each day. With just over a week to go until the end of January, and the awaited arrival of the

      5 min read

    • Article

      Insurers To Turn Fintech Players

      Aug 19, 2021

      Large-scale health catastrophes aren’t new. The world has already witnessed a series of epidemics, including SARS, MERS, Ebola and Zika. But Covid-19 is different, a pandemic that swarmed the planet at one go, leaving no place for us humans to take r

      5 min read

    • Article

      Don't Go it Alone: 4 Benefits of Having a Financial Adviser

      Jun 4, 2020

      The COVID-19 pandemic is taking a toll on every aspect of our lives. Investors are nervous, watching the value of their stock portfolios and retirement savings sink, and the global economy grind to a halt. They are worried about their financial secur

      4 min read

    • Article

      The Collaboration I’m Most Proud Of

      Jan 22, 2022

      MANAGING DIRECTOR, IMF In August 2021, the 190 member countries of the International Monetary Fund—working together to tackle the pandemic, a crisis like no other—delivered an achievement like no other: a historic $650 billion injection of Special Dr

      10 min read

    • Article

      The Collaboration I’m Most Proud Of

      Jan 21, 2022

      MANAGING DIRECTOR, IMF In August 2021, the 190 member countries of the International Monetary Fund—working together to tackle the pandemic, a crisis like no other—delivered an achievement like no other: a historic $650 billion injection of Special Dr

      10 min read

    • Article

      New Band of Brothers

      Oct 29, 2020

      The author is a professor at the School of International Studies, Institute of South-South Cooperation and Development, Peking University To deal with the novel coronavirus disease (COVID-19) pandemic, over 170 economies formed a multilateral arrange

      3 min read

    • Article

      How To Avoid Becoming Obsolete And Uninsurable

      Jan 8, 2021

      Futurists are people who study the latest trends and extrapolate from them to forecast what the future holds, particularly for society. Sometimes they get it spot on; sometimes they don’t. Those who predicted 2020 got it memorably and terribly wrong!

      2 min read

    • Article

      Africa Must Meet Its Own Needs For Essential Health Products

      Mar 28, 2021

      THE development of vaccines against the Covid-19 virus in record time has given the world reason for hope. But it must be hope for all, not only for some. No one is safe until we are all safe. The only way to keep this from happening is to distribute

      3 min read

    • Article

      Africa Must Meet Its Own Needs For Essential Health Products

      Mar 28, 2021

      THE development of vaccines against the Covid-19 virus in record time has given the world reason for hope. But it must be hope for all, not only for some. No one is safe until we are all safe. The only way to keep this from happening is to distribute

      3 min read

    • Article

      Back To The Future Of Health

      Sep 30, 2022

      Back To The Future Of Health
      3 min read

    • Article

      Quick Read

      Mar 20, 2021

      FIRST National Bank (FNB) reports that the FNB/Bureau for Economic Research Consumer Confidence Index increased by three index points to -9 for the first quarter of this year. Before the Covid-19 outbreak, a deterioration in South Africa’s economic p

      1 min read

    • Article

      Quick Read

      Mar 20, 2021

      FIRST National Bank (FNB) reports that the FNB/Bureau for Economic Research Consumer Confidence Index increased by three index points to -9 for the first quarter of this year. Before the Covid-19 outbreak, a deterioration in South Africa’s economic p

      1 min read

    • Article

      Quick Read

      Mar 20, 2021

      FIRST National Bank (FNB) reports that the FNB/Bureau for Economic Research Consumer Confidence Index increased by three index points to -9 for the first quarter of this year. Before the Covid-19 outbreak, a deterioration in South Africa’s economic p

      1 min read

    • Article

      Quick Read

      Mar 20, 2021

      FIRST National Bank (FNB) reports that the FNB/Bureau for Economic Research Consumer Confidence Index increased by three index points to -9 for the first quarter of this year. Before the Covid-19 outbreak, a deterioration in South Africa’s economic p

      1 min read

    • Article

      Government Decision-making Must Become More Agile

      Oct 26, 2020

      Global and local policy responses to the ongoing COVID-19 pandemic have shone a light on the effectiveness of governments to address urgent crises. The world is now almost seven months into the pandemic, and an assortment of government interventions

      2 min read

    • Article

      Must Never Lose Sight Of Risk & Crisis Management

      Jan 21, 2021

      We are living in an interconnected world with an interdependency which is going to get stronger in the coming years. Leaps in technology, rising influence of social media, access to information at click of a button, progress in transport infrastructu

      4 min read

    • Article

      Where To For Private Healthcare In SA?

      Nov 9, 2020

      Grant Crompton, managing director of Leap SA, a provider of medical aid, employee benefits, and international retirement and health insurance The COVID-19 pandemic has seen a global increase in demand for quality healthcare, and its impact on the med

      2 min read

    Reviews for Insurance Against Covariate Shocks

    0 ratings

    0 ratings0 reviews

    What did you think?

    Tap to rate

    Review must be at least 10 words