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Business News Digest
Sompo Japan to partner with Myanmar Rice Federation
To implement weather index insurance
On July 26, Sompo Japan Nipponkoa Insurance signed a partnership with the leading association of rice producers, Myanmar Rice Federation (MRF), to collaborate to offer insurance "Weather Index Insurance" to farmers to cover crop losses due to bad weather conditions. Sompo Japan believes that farmer insurance is key for Myanmar, and by using its experience across ASEAN, developed a prototype model for such insurance in 2014. To further develop this insurance product, they are conducting research in collaboration with the MRF.