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Samoa’s First Parametric Microinsurance Product Launched to Cushion Impact of Climate Change
Farmers, fishers, MSMEs, and other climate-vulnerable groups in Samoa now have access to an innovative micro-insurance product, designed to protect them against the adverse impacts of tropical cyclones.
This is after the UN Capital Development Fund (UNCDF) in partnership with local insurer, Samoa Surety Insurance, launched a climate and disaster risk parametric micro-insurance product in the country. This is now the fourth to exist in the Pacific region, besides Fiji, Vanuatu, and Tonga to have such a scheme.
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