RBF

Over $200,000 paid to 2023 flood victims through Pacific Insurance Climate Programme - RBF Governor

Over $200,000 paid to 2023 flood victims through Pacific Insurance Climate Programme - RBF Governor

By Mansi Chand
Wednesday 13/11/2024

Following the flooding in early 2023, more than $200,000 was paid to the affected people through the UNCDF's Pacific Insurance and Climate Adaptation Programme.

Reserve Bank of Fiji Governor, Arrif Ali highlighted this to the Parliamentary Standing Committee on Foreign Affairs and Defence while making submissions on Fiji Insurance Annual Report 2023.

Ali says this is a collaboration between RBF, SUN and Tower Insurance that aims at further enhancing financial resilience among vulnerable communities in Fiji.

The CEO says the insurance industry provides necessary safeguards for the financial health of individuals, families, communities, businesses, and the economy.

He says insurance companies must be profitable therefore by their mandate of ensuring financial stability, RBF plays a key role in regulating and supervising the industry.

Ali says with the scale-up of existing parametric insurance products over an additional two-year partnership, the aim is to reach 5,000 policyholders with an expected total of 25,000 beneficiaries – 45 percent of whom are among poor and vulnerable population.

The CEO further says people who are affected due to climate change and adverse weather conditions are the ones who are poor.

He adds that this policy will ensure that most in need are empowered with financial protection and ensuring that no one is left behind in the efforts to address climate change.

FEATURE NEWS
We have observed a decline in the number of superbugs at CWM - MOH
The Ministry of Health has today said that they have observed a decline in the number of antibiotic-resistant organisms or superbugs being isolated at...
2 minutes ago
LATEST NEWS
WRFL and PRF represent Fiji at the 2024 Australian Packaging Covenant Organisation Awards
Waste Recyclers Fiji Limited and the Pacific Recycling Foundation team represented Fiji at the prestigious 2024 Australian Packaging Covenant ...
50 minutes ago

NFA partners with Queensland Fire Service to modernize Fiji's emergency response
With new fire risks on the horizon, the National Fire Authority is collaborating with the Queensland Fire and Emergency Department to transform the ...
54 minutes ago

KOICA proposes National Recovery Centre to address Fiji’s drug crisis
With the country struggling to handle the drug crisis and addiction, the Korea International Cooperation Agency (KOICA) is proposing to set up a ...
60 minutes ago

Women MPs voices is not resonating enough – Law student
Despite efforts made by women Parliamentarians to raise awareness about issues affecting women and children, their voices are not making a ...
1 hour ago

UniFiji School of Business and Economics Best Student Awards
University of Fiji Vice-Chancellor Professor Shaista Shameem says the graduates of the University’s School of Business and Economics stand out not ...
2 hours ago



fijivillage Straight Talk with Vijay Narayan
Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
yb
IN DEPTH
Doctor Alipate Vakamocea on fijivillage Straight Talk with Vijay Narayan
Fiji Medical Association President, Doctor Alipate Vakamocea will appear on fijivillage Straight Talk with Vijay Narayan The show will focus on ...
7 days ago

Mangal and Akauola on fijivillage Straight Talk With Vijay Narayan
Adult Teen Challenge Fiji Executive Director, Hemraj Mangal and Director, Matai Akauola appear on fijivillage Straight Talk With Vijay Narayan The ...
7 days ago

Sporting federations demand answers from FASANOC
National sporting federations who are part of Fiji Association of Sport and National Olympic Committee or FASANOC, are still calling for answers and ...
14 days ago

TOP