The Insurance Bureau announces the implementation of the pilot project for climate risk insurance, which is the first of its kind in Iraq and the region. The project aims to provide insurance coverage against climate risks (sudden heat waves, climate and drought), as the project includes the categories of (farmers and the poorest farmers), in addition to defining the geographical scope to include the governorates of (Karbala and Nineveh) by granting loans to the aforementioned categories of farmers for agricultural purposes in both its aspects (plant and animal) and in cooperation with the World Food Program and the Ministry of Agriculture).

It is worth noting that the insurance coverage will be provided by Asia Gate Insurance Company, as for the first time a private Iraqi insurance company will undertake insurance coverage for this type of insurance.

The importance of the subject is highlighted by providing financial services to the largest possible number of segments of society in order to achieve financial inclusion, which requires the provision of special insurance coverage that is very small.

It is worth noting that insurance works to enhance early action to confront any climate disaster and increase the pace of recovery in order to restore livelihoods and rebuild vital infrastructure so that people and local communities can rise again.