By Daniel Flynn DAKAR (Reuters) - African countries want to extend a new catastrophe insurance fund, which made its first payout of $25 million this month, to include protection against epidemics in the wake of the devastating Ebola outbreak. The African Risk Capacity (ARC) agency, a specialised body of the African Union, launched a scheme last year to insure against natural disasters. It is an effort to break Africa's reliance on foreign aid and address the impact of climate change by using innovative financial techniques. The ARC paid $25 million in its first year of operations to Senegal, Mauritania and Niger to mitigate the effects of a severe drought in the arid Sahel region south of the Sahara -- well above the $8 million in premiums paid by those countries.
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