More people getting their house insured under cyclone covers
June 16, 2018 11:05 pm
More Fijians are getting their houses insured under cyclone covers.
This was revealed by Tower Insurance Fiji during the Construction Industry Conference that ended yesterday.
Tower Insurance Fiji General Manager Sarah-Jane says last year, at least 31% of their clients were insured under their cyclone cover compared to less than 29% in 2015.
Sarah-Jane says they’re working closely with other banks to ensure more houses are insured.
“You can see that the cyclone cover is increasing and I believe that certainly from the banks they are trying to be more vigilant and ensure cyclone cover exists.”
A survey done by the Pacific Catastrophe Risk Assessment and Financing Initiative this year revealed out of 240,000 homes in Fiji only 15,000 were insured under a cyclone cover.
Meanwhile, the first ever Construction Conference has been hailed a success.