Financiera Confianza issues over 100,000 climate risk insurance policies

Financiera Confianza, an entity of the Fundación Microfinanzas BBVA, has issued over 100,000 optional multi-risk and agricultural insurance policies this year. This initiative aims to mitigate the impact of climate risks, such as the projected extraordinary El Niño phenomenon expected for the 2026-2027 summer.

Data from the Fundación Microfinanzas BBVA indicates that entrepreneurs with insurance coverage experience significant economic benefits. Compared to those without coverage, insured entrepreneurs see an 8.1% increase in surpluses and a 12.7% higher growth in assets. Additionally, those with sanitation credits report 7% more savings and a reduction in expenses reported by 93% of clients.