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When Tropical Storm Isaac Hit, Microinsurance Payouts to Haiti’s Small Business Owners Quickly Followed
Through a for-profit reinsurance company called MiCRO (Microinsurance Catastrophe Risk Organisation), formed in March 2011 by the global humanitarian agency Mercy Corps and Haiti’s largest microfinance institution Fonkoze, female microentrepreneurs who hold policies will have their loans cancelled and receive a $125 USD payout to replace damaged inventory or repair homes or businesses.
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