FSC helps promote agricultural insurance by granting approval to parametric agriculture insurance products
2017-04-06
Considering climate change in recent years, which have increased the frequency and scale of agricultural loss, the FSC approved an application for an aquaculture insurance product using precipitation as the index on March 30, 2017, in order to better protect farmers. The product provides parametric insurance coverage using agreed accumulated precipitation as the trigger for claim payment. Such claim payment design not only simplifies the claim process and increases claim payment efficiency, but also appropriately transfers the risk of catastrophic loss by the aquaculture industry caused by climate change.
Visitor：
1122
Update：
2018-01-23