RELIEF CHARITY’S UNUSUAL INSURANCE POLICY

The World Food Program, run by the United Nations, has taken out a $930,000 insurance policy based on the weather patterns in Ethiopia that will pay the organization if a severe drought hits the region, reports The New York Times. AXA Re, a French insurer, will pay the World Food Program $7.1-million if rainfall dips below a certain level at 26 measurement stations in the country. A spokesman for the organization says that while the group does not wish for a drought, the money will allow emergency aid to be doled out to the needy more quickly than relying on donations after a disaster strikes.