Sivaniolo Lumelume 
The government of Australia believes that Fiji’s path towards resilience requires forward-thinking and innovative solutions like parametric insurance products.
Australian High Commission representative Counsellor Louise Scott highlighted that the parametric cover offers quick, targeted payouts in the wake of natural disasters.
Scott said that it also provides vulnerable communities and businesses with the support needed to rebuild quickly and confidently and get on with their lives.
“After successfully testing these parametric insurance products, today’s launch marks the scale-up of them so that they reach more people, more businesses, and more communities across Fiji.”
Scott stated that there are additional products designed to specifically target persons with disabilities and those on social welfare, extending the reach of the insurance to those who need it the most.
She highlighted that it sets an exciting precedent, giving the Reserve Bank of Fiji the first central bank in the Pacific to lead and facilitate a national parametric insurance scheme.
