Climate Risk Protection for Smallholder Farmers
BY BLUE MARBLE MICRO
REGION
Latin America
INDUSTRY
Public sector
PARTNERS
Regional Governments
CATEGORY
Modeling, Covering
SERVICE
Insurance
RISK
Excess Rainfall and Drought
STRUCTURE
Macro
IMPACT
Climate resilience and adaptation
Challenge
Regional governments in many countries face growing difficulties in protecting farmers from the escalating risks of a changing climate. Extreme weather events such as droughts, floods, hurricanes, and high temperatures are becoming more frequent and with greater severity. These events threaten harvests and the resilience of communities. Importantly, the absence of structured climate protection mechanisms weakens food security and destabilizes the local economies.
Solution
To address this gap in protection, Blue Marble has worked with a regional government and a local insurer to develop and launch a multi-crop insurance product that is protecting farmers against excess rainfall and drought. The state government’s involvement has been critical in aligning the program with local agricultural priorities and supporting affordability, while the local insurer provides underwriting expertise and distribution networks. This partnership model has allowed farmers to access insurance at scale and provides a reliable safety net that reduces income uncertainty and enables more confident investment in their crops.
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