Fiji Time: 9:15 AM on Wednesday 21 March

Fiji Times Logo

/ Front page / Archives » Article Index

Need for increase in insurance penetration

Manasa Kalouniviti
Friday, February 23, 2018

CAPITAL Insurance CEO Ian Faragher says there will be dire effects of under-insurance in developing markets when they are exposed to the wrath of mother nature.

Mr Faragher was addressing participants of the Fiji Institute of Bankers workshop for lawyers and bankers at Holiday Inn Suva yesterday.

"And the next step in insurance must be to develop partnerships in developing economies to better protect individuals, businesses, and governments from the uncertainties of natural catastrophes," Mr Faragher said.

He said Fiji had a wonderful opportunity to do this.

"I can think therefore of few places on Earth where the role of insurance, to protect the economy, businesses and ordinary people from the financial impact of natural catastrophes, is so marked," he said.

He said the major theme of his presentation was the importance of insurance penetration in Fiji.

"If you can increase insurance penetration; that helps the resilience of Fijian businesses to respond adequately to natural catastrophes," he said.

Mr Faragher also spoke about the importance of having a strong insurance industry in Fiji.

"The Reserve Bank of Fiji is doing a very good job closely monitoring and working closely with the insurance industry in Fiji making sure that the industry is strong."

Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Code Inward TTs Outward TTs
CAD 0.65010.6311
JPY 53.348150.3481
GBP 0.35320.3452
EUR 0.40320.3912
NZD 0.69270.6597
AUD 0.64710.6221
USD 0.49890.4819



Exchange Rate updated on 20th, March, 2018

Today's Most Read Stories

  1. Meningococcal disease outbreak
  2. 12 dead by disease
  3. Teacher reports male student in washroom for girls
  4. Changing politics
  5. Next sevens challenge
  6. Kunabuli hopes to expand his rugby career
  7. Police probe assault
  8. Government inherited $2.8b debt
  9. Parents fundraise for school dormitory
  10. Gaps in agriculture data

Top Stories this Week

  1. Sims' 100th game Thursday (15 Mar)
  2. Men urged to marry Thursday (15 Mar)
  3. 'Forced to go' Saturday (17 Mar)
  4. Meningococcal disease outbreak Tuesday (20 Mar)
  5. Doctors speak out Sunday (18 Mar)
  6. No desk for this girl Monday (19 Mar)
  7. Where are our horses Sunday (18 Mar)
  8. Baravilala's ode to Cessna victims Thursday (15 Mar)
  9. A star in the making Thursday (15 Mar)
  10. Police appeal to livestock owners Monday (19 Mar)