Climate insurance defended by Angela Merkel

In an effort to benefit emerging countries from the financial protection against natural catastrophes, Germany supports the idea of climate insurance. This type of coverage has already been set up in Mauritania, Niger and Senegal.
Photo credit: Oxfam (modified picture)

In 2014, the inception year of Africa Risk Capacity (ARC) by Germany and the United Kingdom, 26 million EUR (31.6 million USD) in damages were paid to these countries because of the drought.

A similar project, defended by Angela Merkel for developing countries, has been supported by Munich Re. The German government has allocated 150 million EUR (182 million USD) to set up an insurance model for the states concerned. This concept also draws inspiration from the "Munich Climate Insurance" initiative, born in 2005.

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