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African Risk Capacity pool to increase disaster cover 700%

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Mohamed Beavogui, director-general of ARC Insurance Co. Ltd., catastrophe insurance pool of the African Risk Capacity agency, has said that the insurer will increase its disaster cover for the continent to $1.5 billion by 2020 from $179 million currently.

ARC plans to expand insurance coverage against cyclones, floods and drought to over 150 million Africans in disaster risk in 30 nations, reports Reuters.

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