- OIC’s new Index Based Livestock Insurance for Borena pastoralists
Oromia Insurance Company (OIC) has recently launched a new product dubbed Index Based Livestock Insurance (IBLI) for pastoralists in Borena Zone, Oromia National Regional State. For farmers and pastoralists in Ethiopia’s drought vulnerable zone, the launching of IBLI is very good news.
Borena has been affected by drought recurrently over the past couple of years. According to the United Nations Office for the Coordination of Humanitarian Affairs, in 2010 and 11, drought in Borena caused serious damage to the rich livestock resources of the region. As a result 412,000 out of a total of 1.29 million people in the region were receiving food assistance including aid provided under the Productive Safety Net Programme.