Southern African nations to get weather insurance payouts

Disaster risk financing facility African Risk Capacity is expected to make insurance payouts to Malawi, Mozambique, Zambia, and Zimbabwe as they are severely affected by the current drought, Middle East Insurance Review reported. The risk pools, run by its financial affiliate ARC Ltd., provide timely funds to facilitate early response to a disaster event. The southern African region is experiencing one of its worst droughts in decades, and millions are facing extreme food insecurity and water shortages.