Demand Study Reports: Climate Disaster Risk Financing and Insurance
Categories : Climate finance, Customer and Users of Digital Payments
The Pacific Insurance and Climate Adaptation Programme conducted a series of demand studies in Fiji, Vanuatu and Tonga.
In Fiji, the study covered sugarcane, rice, copra, cash crops farmers in various parts of Fiji to assess the impacts of natural hazards on their incomes and their levels of financial preparedness.
Vanuatu’s study gives an overview of farmers, fishermen, and MSMEs affected in the agricultural and service industry sectors which are important to the economy of Vanuatu and are heavily impacted by natural hazards.
In Tonga, the study revealed the most imminent and damaging hazards to farmers and MSMEs. It also presents the need for a follow-up survey due to the volcanic eruption which occurred on 15 January 2022.
These studies were conducted to inform the development of appropriate and affordable climate and disaster risk financing products like parametric insurance to provide immediate post-disaster liquidity to affected communities. The Programme has used this research to develop parametric insurance product ideas and the findings have also been shared with the local insurance partners.
Read more about these studies here.