According to Tower Insurance, only one out of ten families in Fiji are insured.
Chief Executive Blair Turnbull says this has prompted them to further develop strategies and policies to create awareness of the need for Fijians to be insured.
Turnbull says having relevant policies to insure lives and properties is crucial as we prepare for the cyclone season.
“The challenge in Fiji is one out of 10 homes are insured and so what happens is that when you have a cyclone or when you have a large weather event, the community struggle to bounce back because they have to pack up the pieces of what’s left. They don’t have any extra money to enable them to rebuild stronger than they were before. That is the principle of insurance, to help you rebuild and rebuild better than previously.”
Turnbull says Tower Insurance is therefore investing in providing better services in terms of infrastructure and manpower to enable them to create more awareness on the importance of getting insured.
Tower Insurance provides services to nine Pacific island countries including New Zealand.