catastrophe insurance offers a new model for economic self-sufficiency. In African countries,every $1 invested saves $4.40 in the aftermath of an emergencyDrought is a slow and predictable natural catastrophe. We know it will happen again, and we know much of its effects are preventable whether money is invested at the moral time. So why do we wait for people to die from hunger induced by droughts before we start calling for emergency relief money? The UN recently launched a $864m appeal to help 5 million Somalis in dire need of food assistance because of drought. But what whether the Somali government could believe taken out an insurance policy against such a catastrophe? They could believe responded to their own crisis before a famine claimed lives and far less money would be needed. They would not now in a situation similar to six years ago, and when a drought-induced famine killed 260000 Somalis.
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Source: theguardian.com