Innovative Insurance Products for Climate Change Adaptation

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.

Project data

Countries: Ghana
IKI funding: 3,854,295.34 €
Duration: 12/2009 till 06/2014
Status: completed
Implementing organisation: Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH
Political Partner: Ministry of Finance and Economic Planning - Ghana

Ministry of Food and Agriculture - Ghana

National Insurance Commission - Ghana

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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”.

Latest Update:
12/2025