Underinsurance and the unawareness of insurance remain significant challenges say insurance providers in Fiji and the Pacific.
Chief Executive Officer of Capital Insurance in Fiji, Tonga, and Vanuatu, David Ariff Chan, said many individuals and businesses in Fiji are either underinsured or unaware of the full benefits of insurance which can “leave them vulnerable to financial shocks in the event of unforeseen circumstances.”
Recent data from the Reserve Bank of Fiji shows only 15% of adults in that country have access to some form of insurance. Similarly . . .