Insurance Industry Response To Flood Risk In Kenya
Actuarial Services (EA) Ltd
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Abstract: This article explores Kenya?s insurance sector responses to rising flood risks. It outlines mechanisms like parametric and index-based insurance tied to rainfall levels or river metrics for timely payouts. Coverage for smallholder farmers along River Tana is profiled. Challenges such as premium affordability, exclusions, and regulatory evolution are discussed. It promotes solutions like GIS flood mapping, education, ESG-aligned products, and investment in resilience infrastructure. The industry?s role in risk awareness, disaster funding, and climate adaptation is emphasized.
Theme/Sector:
Disaster Risk and Reduction, Early Warning Systems, Climate Change Impacts, East Africa
Year
2024