Initial Market Assessment : Country Scoping Note--Senegal
Senegal is implementing a Disaster Risk Management (DRM) framework and has established a public private agriculture insurance company. Rules, responsibilities and operational procedures need clarification, ideally guided by the findings of a fiscal...
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| Format: | Report |
| Language: | English en_US |
| Published: |
Washington, DC
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2015/07/24773654/initial-market-assessment-country-scoping-note-senegal http://hdl.handle.net/10986/22427 |
| Summary: | Senegal is implementing a Disaster Risk
Management (DRM) framework and has established a public
private agriculture insurance company. Rules,
responsibilities and operational procedures need
clarification, ideally guided by the findings of a fiscal
disaster risk assessment. Insurance mechanisms are not
considered in (sovereign) catastrophe risk transfer so far.
Additional investment in and guidance with data market
infrastructure would be necessary for sovereign DRM but
would also benefit the spread of catastrophe property
insurance for households, businesses and even low income
populations who are beginning to see flood micro-insurance.
With the public private agriculture insurance company,
Senegal has a unique partner for rural outreach that could
go beyond agriculture insurance. But the company would
require technical support to achieve sustainability and find
its role in the social protection framework. There is a
unique window of opportunity for micro-insurance in Senegal
as specific regulation is being implemented. This has
generated momentum that can significantly grow the outreach
of insurance but calls for technical and financial support.
The most immediate opportunities for promising multi
stakeholder interventions in Senegal are in agriculture
insurance, where various initiatives have begun specifying
the potential. Credit linked property micro-insurance
against floods could be explored. |
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