Nigeria: Climate Change Impacts On Pricing Long-Term Flood Insurance

All Africa (August 24, 2011) | Recently long-term flood insurance contracts with a duration of 5, 10 or 15 years have been proposed as a solution for covering flood risk and mitigating increasing flood losses. Establishing a long-term relation between the policyholder and the insurer can provide better incentives to reduce risk through undertaking damage mitigation measures.