Munich Re reinsures agricultural cooperatives

Munich Re provides coverage protecting cooperatives loans in case of extreme weather events. The CLIMBS will be the first cooperative to benefit from this product, it comprises 1 501 insured. A cooperative provides loans that can often not be refunded as a result of the harsh weather affecting its members. According to this scheme, the cooperative will be compensated. It will receive an amount corresponding to a defined percentage of its loan portfolio, whenever a parameter is reached: wind speed, rainfall level, etc.