A parametric insurance policy has been triggered to provide relief to nearly 120,000 people in Syria after one of the country’s worst droughts in half a century, through an initiative funded by Humanity Insured as part of a wider public–private partnership with the World Food Programme (WFP), the Global Shield Financing Facility, and support from Allianz.
Triggered in June by satellite-monitored rainfall and vegetation data, the policy covers critical agricultural areas in Syria, with the $7.9 million payout providing immediate food assistance and essential supplies.
Allianz observed, “The humanitarian situation is dire in many developing countries, and Syria is one of the most vulnerable. A decade of civil war has left infrastructure in ruins, livelihoods shattered, and more than 3 million people suffering acute food insecurity.
“Now, the climate crisis is adding a cruel layer to the country’s hardship. Following the driest winter in 70 years and scorching summer heatwaves, the northeast of Syria is facing catastrophic agricultural failure. Crops have failed, wells are running dry and rural livelihoods are eroding fast.”
Gabrielle Durisch, Chief Sustainability Officer at Allianz Commercial and Member of the Board of Trustees of Humanity Insured, added, “This payout relating to Syria shows exactly why it’s important for Allianz to support charities like Humanity Insured, insurance is our business and can deliver when it’s needed most.
“When drought hits, families often have to make impossible choices – like selling livestock, reducing meals or pulling children from school.
“We support Humanity Insured to ensure people don’t have to make those trade-offs. We’re getting critical funding to communities. It’s a fast, targeted way to help people.”
Charlie Langdale, CEO of Humanity Insured, commented, “This first payout marks a turning point – not just for families in Syria, but for how we approach climate risk in the world’s most vulnerable places. It proves anticipatory finance can work, even in conflict zones.”
Mathieu Dubreuil, WFP’s Lead Advisor for Climate & Disaster Risk Financing and Insurance, said, “We are demonstrating that disaster risk financing instruments, and insurance in particular, are an efficient way to support food-insecure communities with an early response to a catastrophic event, even in the most fragile contexts.
“This payout is a proof of concept that these instruments can prevent communities from being left behind when impacted by climate extremes.”
