Insurance Brokers Raise Awareness On Recovery Packages

SUNBIZ

Insurance Brokers Raise Awareness On Recovery Packages

Property premium increased by 30% in the last quarter of 2020, a report from insurance brokers has revealed. The Licensed Insurance Brokers Association of Fiji yesterday made the announcement while tabling a submission before the Standing Committee on Economic Affairs, in Parliament.

by laisa kabulevu

13 Apr 2022 11:00

Insurance Brokers Raise Awareness On Recovery Packages

From left: Members of Parliament Inosi Kuridrani and Sachida Nand, with Licensed Insurance Brokers Association of Fiji member James Mastapha, Standing Committee on Economic Affairs chairperson, Vijay Nath, association member, Wayne Wong, committee deputy chair Veena Bhatnagar, association chair Bill Higginson, and MP Ro Filipe Tuisawau during the submission, in Suva, on April 12, 2022. Photo:Laisa Lui

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Property premium increased by 30% in the last quarter of 2020, a report from insurance brokers has revealed.

The Licensed Insurance Brokers Association of Fiji yesterday made the announcement while tabling a submission before the Standing Committee on Economic Affairs, in Parliament.

Association member, Wayne Wong, said there was confidence in recovery and restoration within the broker industry, following the
impact of COVID-19.

This was despite a general reduction of 4.2%, or $8.6 million, across industries, he said.

An Invitation For More Awareness
Committee chair, Vijay Nath, said stakeholders were invited to present their case on the economic recovery measures in view of the COVID-19 pandemic, natural disasters.

“Awareness is quite low for insurance, until FijiCare Insurance came into the picture to provide bundles of insurance,” he said.

“Stakeholders and brokers are invited to present their case on how they can make more products or better, tailor-made products for Fijians.”

Feedback: laisa.kabulevu@fijisun.com.fj