Igniter

想不到, 保險行業跟人道工作竟然有接合之處...

Quoted from Reuters (ADDIS ABABA, March 6)

The United Nations World Food Programme (WFP) said on Monday it had signed a deal with AXA RE to cover for drought in Ethiopia, the world's first insurance contract for humanitarian emergencies.

Under the contract, AXA will pay out $7 million in contingency funding if extreme drought wrecks Ethiopia's harvest in the 2006. The money will be used to aid up to 17 million poor Ethiopian farmers should an extreme drought arise.

AXA RE CEO Hans-Peter Gerhardt said the deal was the first time a financial institution had taken on risk for protecting people in poor countries against the consequences of drought.

The statement said payment will be triggered when rainfall over the March-October 2006 period is significantly below historic averages, signalling likely crop failure.