International 
Innovative Insurance Products for Climate Change Adaptation
As of: May 2021
This project aimed to help Ghana manage the socio-economic costs and risks associated with climate change. It did so by developing and placing on the market climate-related agricultural insurance schemes for selected value chains. The project involved cooperation with regulatory and supervisory bodies, insurance companies and insurance industry associations, as well as consumers. In addition, a project knowledge management component on climate risk insurances in the IKI was added at a later stage.
State of implementation/results
- Project completed
- The project created institutional preconditions and knowledge basis for the introduction of risk insurance schemes for the agricultural sector in Ghana.
- 36 automatic weather stations were acquired and installed in seven out of ten regions in Ghana.
- The Ghana Agriculture Insurance Program (GAIP) developed two weather index insurance products (for corn and soy) and an insurance product based on a yield index.
- Beyond the Ghanaian context the project generated knowledge for index based insurance schemes.
- Selected activities are followed up in the IKI project “Promoting integrated mechanisms for climate risk management and transfer”.
Project data
- Country:
- Ghana
- Implementing organisation:
- Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH
- Political partner(s):
- Ministry of Finance and Economic Planning - Ghana
- Ministry of Food and Agriculture - Ghana
- National Insurance Commission - Ghana
- BMU grant:
- 3.854.295,34 €
- Duration:
- 12/2009 till 06/2014
Related news
| 13.11.2013 | Managing climate risks and guarding against financial loss |
| 08.09.2011 | Agricultural insurance in Ghana |
| 02.02.2011 | Workshop on innovative insurance solutions |
