Government this week has provided additional comfort ahead of the cyclone season with an approval to fund insurance cover against disaster. Cabinet approved a USD100,000 insurance premium payment to secure the country in the event of a disaster this coming cyclone season. The insurance cover is part of a multi-country pilot project under the World Bank. The Cook Islands will be insured 1 November 2013 to 31 October 2014 under a scheme called the Pacific Catastrophic Risk Insurance Pilot. The insurance cover will help Government in the aftermath of a disaster, providing for faster relief against emergency losses. The scheme also complements the existing funding measures in place for immediate emergency response.
Posted on: Fri, 20 Sep 2013 00:14:25 +0000
Trending Topics
Recently Viewed Topics
© 2015