African Union unit says developing epidemic insurance

[February 03, 2015]  LONDON (Reuters) - A unit of the African Union said on Tuesday it was developing outbreak and epidemic insurance for African sovereigns following the Ebola outbreak.

The African Risk Capacity (ARC), the continent's sovereign disaster risk insurer, said it was working with Metabiota, which works to manage and mitigate pandemic threats, to develop the insurance products.

"We aim to insure the first four participating states in 2017,” said Richard Wilcox, director general of ARC, in a statement.

(Reporting by Carolyn Cohn; editing by Nishant Kumar)

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