NU Online News Service, Dec. 5, 2:00 p.m. EST
Recognizing the need for insurance-risk transfer in Caribbean states vulnerable to climate change, Munich Re says it has received permission to launch a program that provides insurance to workers and farmers most likely to suffer from hurricanes and floods in the region.
The Munich, Germany-based insurer says Germany's Federal Ministry for the Environment approved funding for a unique project to provide microinsurance and other risk-transfer solutions linked with disaster-risk reduction and risk management.
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