Fiona Robertson
Catastrophe insurance pool African Risk Capacity (ARC) is planning to double the insurance coverage it offers by opening up to UN agencies and non-governmental organisations.
The pool already offers nine governments about $180mn of coverage and it hopes other organisations will take out cover to match this existing limit.
ARC aims to provide $850mn of cover direct to sovereigns by 2020, which it said could almost double to $1.5bn including “replica coverage” bought by other organisations.
The Insurance Insider
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