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Morocco: Govt to launch farm index-based insurance

Source: Middle East Insurance Review | Jan 2018

The Moroccan government is starting an insurance experiment in using a parametric trigger or index-based insurance.
 
   Following an international call for tenders, consulting firm FINACTU has been selected to support the Ministry of Agriculture, Maritime Fisheries, Rural Development and Water & Forests in setting up and monitoring parametric insurance against the consequences of drought at the national level.
 
   The task of FINACTU is to specify the technical outlines of the product, then to organise the international tender that will select the risk-taker and to monitor the implementation of the insurance scheme.
 
   This mission complements FINACTU’s track record in the implementation of agricultural insurance solutions, in Africa in general, and in Morocco in particular, where FINACTU has already supported the Ministry twice, in 2010 and 2015.
 
   Given its geographical position, Morocco has always been subject to climatic hazards, particularly drought. The government would like to minimise the impact of natural disasters on public finances by subscribing to insurance.
 
   Tenders are expected to be called during the first half of 2018 in order to acquire the insurance for the 2018-2019 agricultural season. M 
 
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