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Parametric Microinsurance: a key tool to achieve resilience in Guatemala
Published by:
Online Location
https://docs.wfp.org/api/documents/WFP-0000141796/download/?_ga=2.118113290.2043343041.1660287062-1414782069.1658411867
Publication date
12/08/2022
Language:
English
Country
Guatemala
Type of Publication:
Working Papers & Briefs
Focus Region:
Latin America & the Caribbean
Focus Topic:
Rural Finance / Insurance
Author
World Food Programme - Guatemala
Organization
World Food Programme
This factsheet introduces the parametric microinsurance programme that provides a key tool to achieve resilience in food security and nutrition for the people that are most vulnerable to climate shocks in Guatemala.
With Guatemala being one of the most vulnerable countries to natural hazards, which are increasing with the current climate crisis, WFP Guatemala designed a parametric microinsurance programme to build resilience in the most vulnerable communities and A pilot of the project was successfully carried out in 2021, insuring over 1,000 people in five departments across the country. This factsheet presents the design of the parametric insurance programme, the pilot phase, and the scale up strategy of 2022 which will now cover seven departments and over 9,000 people are insured.