Microinsurance Catastrophe Risk Organization (MiCRO) Cholera Product
Country of Operation
- Mercy CorpsNot-for-profit
- Swiss ReFor-profit
SummaryThe scheme is expected to make cholera covers available to Fonkoze’s women borrowers (which currently number 50,000) and their families, and be fully implemented by 2013.
MiCRO is seeks to work with microfinance institutions in Haiti to provide their clients with access to this catastrophe insurance product.
Key program components
The cholera insurance scheme ensures “real-time” payout once a pre-defined set of criteria are met. These include cholera-related hospital admissions and observable weather factors linked to cholera outbreaks.
Microinsurance Catastrophe Risk Organization (MiCRO) is a microinsurance reinsurance platform established in Barbados in 2011.