Shania Shayal Prasad 
[File Photo]
More than $300,000 has been paid out to beneficiaries under the parametric insurance scheme since its launch in 2021.
This was highlighted by Reserve Bank of Fiji representative Lepani Uluinaviti during an awareness session in the Lau Group.
Uluinaviti says there have been six payouts to date.
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He says the scheme has proven effective in assisting vulnerable households following natural disasters.
The insurance is designed to support farmers, low-income earners, and those in rural and maritime areas.
It provides financial assistance triggered by cyclone wind speeds or heavy rainfall.
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