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Triggered in June by satellite-monitored rainfall and vegetation data, the policy covers critical agricultural areas in Syria, with the $7.9 million payout providing immediate food assistance and essential supplies.<\/p>\nA parametric insurance policy has been triggered to provide relief to nearly 120,000 people in Syria after one of the country\u2019s worst droughts in half a century, through an initiative funded by Humanity Insured as part of a wider public\u2013private partnership with the World Food Programme (WFP), the Global Shield Financing Facility, and support from Allianz.<\/p>\n
Triggered in June by satellite-monitored rainfall and vegetation data, the policy covers critical agricultural areas in Syria, with the $7.9 million payout providing immediate food assistance and essential supplies.<\/p>\n
Allianz observed, “The humanitarian situation is dire in many developing countries, and Syria is one of the most vulnerable. A decade of civil war has left infrastructure in ruins, livelihoods shattered, and more than 3 million people suffering acute food insecurity.<\/p>\n
“Now, the climate crisis is adding a cruel layer to the country’s hardship. Following the driest winter in 70 years and scorching summer heatwaves, the northeast of Syria is facing catastrophic agricultural failure. Crops have failed, wells are running dry and rural livelihoods are eroding fast.”<\/p>\n
Gabrielle Durisch, Chief Sustainability Officer at Allianz Commercial and Member of the Board of Trustees of Humanity Insured, added, \u201cThis payout relating to Syria shows exactly why it\u2019s important for Allianz to support charities like Humanity Insured, insurance is our business and can deliver when it\u2019s needed most.<\/p>\n
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<\/a><\/div>\n<\/div>\n“When drought hits, families often have to make impossible choices \u2013 like selling livestock, reducing meals or pulling children from school.<\/p>\n
\u201cWe support Humanity Insured to ensure people don\u2019t have to make those trade-offs. We’re getting critical funding to communities. It’s a fast, targeted way to help people.\u201d<\/p>\n
Charlie Langdale, CEO of Humanity Insured, commented, \u201cThis first payout marks a turning point \u2013 not just for families in Syria, but for how we approach climate risk in the world\u2019s most vulnerable places. It proves anticipatory finance can work, even in conflict zones.\u201d<\/p>\n
Mathieu Dubreuil, WFP\u2019s Lead Advisor for Climate & Disaster Risk Financing and Insurance, said, \u201cWe are demonstrating that disaster risk financing instruments, and insurance in particular, are an efficient way to support food-insecure communities with an early response to a catastrophic event, even in the most fragile contexts.<\/p>\n
“This payout is a proof of concept that these instruments can prevent communities from being left behind when impacted by climate extremes.\u201d<\/p>\n
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