The County Government of Tana River has collaborated with
insurance firm Britam to increase the number of households covered under the
Index-Based Flood Insurance (IBFI) policy. This initiative aims to protect
small-scale farmers residing in flood-prone areas from the devastating effects
of floods. By scaling up coverage in Hola and Garsen, the agreement seeks to
extend protection to an additional 20,000 families, building on the 300
households already enrolled in the program. The partnership underscores the
commitment of both parties to enhance community resilience and mitigate the
impact of natural disasters.
Key Highlights:
- Objective
of the Agreement: The primary goal of the partnership is to expand the
reach of the IBFI policy to safeguard more households against the
destructive consequences of floods. By targeting flood-prone areas in Hola
and Garsen, the initiative aims to provide vital protection to vulnerable
communities.
- Community
Resilience: The signing of the Memorandum of Understanding (MOU)
signifies a significant step towards enhancing resilience among residents
of Tana River County. The recent payout to 300 households in Madogo Ward
demonstrates the tangible benefits of the IBFI program in mitigating
flood-related losses.
- Government
Endorsement: Tana River Governor Dhadho Gaddae Godhana has expressed
strong support for the partnership, emphasizing its role in providing
essential protection to the local population. The governor acknowledges
the positive impact of the IBFI solution and its contribution to community
well-being.
- Corporate
Social Responsibility: Britam's Group Managing Director, Tom Gitogo,
highlights the company's commitment to social impact initiatives through
strategic partnerships with local governments. By expanding flood
insurance coverage, Britam aims to foster economic transformation in the
Tana River region and alleviate the financial burden on affected families.
- Innovative
Insurance Solution: The IBFI product, launched in collaboration with
Oxfam in Kenya and global re-insurer Swiss Re, leverages data modeling and
satellite imagery to determine flood thresholds and provide affordable
coverage. This innovative approach ensures that individuals living in
high-risk flood zones have access to essential insurance protection.
Conclusion:
The partnership between the County Government of Tana River
and Britam represents a significant milestone in disaster risk management and
community resilience building. By extending flood insurance coverage to
additional households in flood-prone areas, the initiative seeks to mitigate
the socio-economic impact of natural disasters and empower communities to
thrive amidst adversity. Through collaborative efforts and innovative solutions
like IBFI, stakeholders are working together to create a more resilient and
sustainable future for the residents of Tana River County.