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London: 50,000 self-employed women in India have become the first beneficiaries of a new insurance scheme that Temperatures reached some extreme levels.
Women in Rajasthan, Gujarat and Maharashtra were given a flat payment of $5 each between May 18 and May 2, when temperatures exceeded 40 degrees Celsius.
“This is the first time an insurance payout has been combined with a direct cash assistance program to supplement women’s income during dangerously hot weather,” said Kathy Baughman McLeod, CEO of Climate Resilience for All, a nonprofit that designed the insurance program with India’s Self-Employed Women’s Association (SEWA).
Most women, about 92%, also received additional benefits when their coverage was triggered based on local conditions and the duration of extreme heat, with some receiving up to $19.80.
Insurance is increasingly viewed by policymakers as a tool to help vulnerable groups quickly access financial support after extreme weather events.
Total payments under the program are $341,553.
The insurance is underwritten by reinsurer Swiss Re and provided locally by ICICI Lomba.rd
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