Flood cover: weather disasters in Asia are on increase

Munich Re, the world’s largest reinsurer, has launched the world’s first microinsurance flood cover in Jakarta, targeting millions of poor people living in 24 regularly inundated districts of the Indonesian capital.

The group, which is working with insurer Asuransi Wahana Tata and GTZ, the German government’s international development agency, says the year-long pilot project is primarily a corporate social responsibility scheme.