On super hot days, this insurance plan pays out cash for lost wages
Summary
A new program in India provides cash payments to waste pickers who cannot work on extremely hot days. This initiative helps them stay safe at home without losing their income during intense heat waves.Key Facts
- The program is run by the Self Employed Women's Association, a trade union.
- It offers payouts when temperatures reach a specific high level.
- Laxmiben Nadia, a waste picker in Ahmedabad, received $14 after missing work due to heat-related illness.
- Ahmedabad is among the hottest cities in the Indian state of Gujarat.
- India has a large population of waste pickers, with over 50,000 in Ahmedabad and nearly 1.5 million across the country.
- Parametric insurance, a type of insurance based on a predefined event like reaching a temperature threshold, is used to provide these payouts.
- Climate change is linked to record-breaking heat waves in India, with temperatures reaching up to 52.3°C (126°F) last year.
- This insurance aims to protect income for various workers, including daily wage earners and farmers affected by climate extremes.
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