From Vision to Action: PCRIC Releases its Second Annual Report
19 July 2023
PCRIC Invited to Second Loss and Damage Workshop
21 July 2023
“With the nation’s already stretched budget dollar unable to accommodate any more additional cost, let alone unexpected ones, the decision by government to finally invest in a climate-based parametric insurance policy has been seen as a move in the right direction.
Under the Cat-in-a-Circle product, Government is eligible to receive a payout for cyclones Category 3 and above. An allocation of $2.5 million has been set aside in the 2023-2024 Budget for the subscription of parametric insurance cover. However, Government is in discussion with development partners on the possibilities of premium subsidy.”
Read more: https://www.fijitimes.com/inside-story-fiji-invests…/….
