The Reserve Bank of Fiji (RBF) and the Ministry of Women, Children and Social Protection signed a Supplementary Grant Agreement under the InsuResilience Solutions Fund Project on 16 April 2026 to formalise premium subsidy arrangements that expand access to parametric microinsurance for social protection beneficiaries. The scheme is being delivered with local insurers Sun Insurance and Tower Insurance and is designed to provide timely, predictable support when predefined climate-related shocks occur. Under the agreement, the RBF subsidised 50 percent of premiums for 2,075 selected beneficiaries to access Sun Insurance’s parametric microinsurance product for December 2025 to November 2026, and 50 percent of premiums for 2,129 beneficiaries under Tower Insurance’s Rainfall Response Cover for August 2025 to July 2026. The RBF also extended a 50 percent premium subsidy for an additional 1,000 persons with disabilities registered under the Ministry to access Tower Insurance’s cover, taking total premium subsidies to $178,000 and resulting in 5,204 social welfare beneficiaries being fully subsidised for the 2025–2026 insurance period. The agreement also supports collaboration on a research study by international researchers on shock-responsive social protection in Fiji, focused on strengthening the integration of insurance mechanisms within national social protection frameworks.

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