The Fiji Crop & Livestock Council has been appointed to promote the Parametric Micro insurance Cover, provided under the Parametric Insurance and Climate Adaptation Programme.
A first for farmers, Parametric Micro insurance Cover is targeted at smallholder farmers, fishermen, market vendors and small businesses.
It ensures protection from the destruction caused by natural disasters, particularly cyclones and excessive rainfall.
FCLC Chief Executive, Jiu Daunivalu says this Cover has come at an opportune time when Fiji’s Agriculture industry braces for the upcoming cyclone season.
Daunivalu says they’ve taken advantage of the bulk text message by informing all its registered members on the date and time for signing up in locations throughout Fiji.
PICAP received funding from the Governments of New Zealand, Australia and Luxembourg.
The Fiji component is additionally funded by the India-UN-Development Partnership Fund administered by the United Nations Office for South-South Cooperation (UNOSSC).
Parametric Microinsurance is based on a pre-defined index threshold directly related to the location of the policyholder, the small farmer for instance.