Posted on 20 October 2023
A new form of insurance has been launched by the Samoan Government to assist the population in responding to natural disasters. The insurance product was announced by La'auli Leuatea Polataivao, the Samoa Minister for Agriculture and Fisheries, on Tuesday.
"Cyclonic winds have devasted people's homes and investments and upended entire livelihoods. Innovative instruments like parametric insurance can provide people with a means to cope better with these impacts”, says Polataivao. He says the product will most benefit fishers, farmers and those with lower incomes.