The report highlighted that when certain key risks are pooled or transferred in a cost efficient manner, the likelihood of falling further into poverty due to external shocks is reduced. It also identified a huge market for micro-insurance, with at least 250,000–300,000 citizens still untapped by insurance in our country.
On the 15th July 2010, the Reserve Bank together with the Pacific Financial Inclusion Program organized an “Information Exchange on Micro-insurance in Fiji” with relevant stakeholders. The event saw stakeholders deliberate and discuss the extension of insurance to low income households in Fiji and enabled them to learn more about its potential for both low income households and insurance companies.