<-bsp-bb-link state=”{“bbHref”:”bbg://securities/1004Z%20ZH%20Equity”,”_id”:”0000018f-8c38-de3b-adcf-debb95fe0000″,”_type”:”0000016b-944a-dc2b-ab6b-d57ba1cc0000″}”>Zimbabwe-bsp-bb-link> will get over half of an expected $60 million insurance pay out meant for four African nations as it reels from the impact of El Niño-induced drought that’s already slashed corn output and led to a state of disaster being declared.
Earlier this month, the African Union’s climate insurance agency said it will pay out at least $60 million to Malawi, Zambia, Zimbabwe and Mozambique to help them offset the impact of the weather catastrophe. The money will equal a fraction of what it needed to alleviate the impact.
“Zimbabwe will get $32 million from insurance pay out in …
Clinton Mora is a reporter for Trending Insurance News. He has previously worked for the Forbes. As a contributor to Trending Insurance News, Clinton covers emerging a wide range of property and casualty insurance related stories.