Policy is first parametric solution to include Fiji's coral reefs and provides cover up to US$450,000 for reef repair and community aid in the event of a cyclone.
ADB considering establishment of risk facility in Hong Kong, Kazakhstan, Singapore, or Labuan, which aims to manage nat cat impacts for 11 CAREC member nations.
Pacific Small Island Developing States could face financial losses from natural disasters surpassing 100% of GDP by mid-century — making a strong case for innovative insurance solutions.
