Samoa Surety Insurance Ltd has introduced a Micro-Climate Bundled Insurance Product, the first of its kind in the Pacific. The product was launched today at Taumeasina Island Resort.
Speaking at the event, Minister for Natural Resources, Environment, and Lands, Toeolesulusulu Cedric Schuster, said the initiative provides another climate financing avenue.
“This product offers financial protection against climate risks and ensures vulnerable communities have access to resources to recover quickly after disasters.”
The insurance was developed with support from the United Nations Capital Development Fund (UNCDF), the Pacific Climate Change Centre (PCCC), and the Secretariat of the Pacific Regional Environment Programme (SPREP).
UNCDF’s Special Representative for Disaster Risk Reduction, Kamal Kishore, was present along with members of the diplomatic corps and government officials.
Samoa Surety Insurance Managing Director John Low said the product is designed to address both slow-onset and extreme weather events, offering coverage tailored to Samoa’s climate challenges.
The government has called for continued collaboration to expand coverage across all communities.
