Weather Index Based Insurance Mindanao Project Documents
UNDP in partnership with the Department of Agriculture – Philippine Crop Insurance Corporation (PCIC) is implementing the project, “Scaling Up Risk Transfer Mechanisms for Climate Vulnerable Agriculture-Based Communities in Mindanao”.
The project aims to reduce poverty by strengthening the resilience of vulnerable agriculture-based rural communities in Mindanao through climate risk transfer mechanisms and productivity enhancement measures.
The project was designed to address two types of climate risk:
(1) increasing variability in climate and (2) climate-changed induced natural disasters. Weather index-based insurance (WIBI) which has been pilot tested by PCIC on a small scale in the last 3 years will be expanded to at least 2,000 households. Disaster Risk Management will also be introduced, disseminated and strengthened at a community level in the same locations where WIBI will be delivered. The provision of climate change adaptation options for the abovementioned types of climate risks in a synchronized manner will increase the adaptive value of such options and reduces vulnerability of small-holder farmers.