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UNCDF briefs Tabuya on insurance product

June 23, 2023 10:30 am

[Source: Fiji Government/Facebook]

Minister for Women, Children and Poverty Alleviation Lynda Tabuya received a courtesy visit from the United Nations Capital Development Fund’s Pacific team this morning.

According to a government statement, the UNDP provided an update to the minister, who is also the Acting Attorney General and Minister for Justice, on a joint initiative to provide parametric micro-insurance cover to social welfare recipients living in high-climate risk locations.

UNDP Regional Technical Specialist – Insurance & Climate Adaptation Praneel Pritesh says the initiative was launched last year as a pilot, covering 274 beneficiaries throughout Fiji.

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[ Source: Fiji Government/Facebook]

He says this was possible through UNCDF’s Pacific Insurance and Climate Adaptation Programme with the support of the UN World Food Programme.

Pritesh says the parametric micro-insurance product is designed to build the resilience of social welfare beneficiaries by providing payouts of up to $400 within 14 days of data from an extreme weather event is verified.

Tabuya expressed her support for the revised insurance product and progressive scale-up with proper targeting of the most vulnerable.

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[ Source: Fiji Government/Facebook]

The program is funded by the governments of New Zealand, Australia and Luxemburg.