The Consumer Council of Fiji has raised significant concerns about the challenges of insurance affordability and accessibility, particularly in the health sector. During a recent submission to the Standing Committee on Economic Affairs, CEO Seema Shandil emphasized that many Fijians face difficulties acquiring insurance, with estimates suggesting that only around 11,000 individuals are currently insured.
Chairman Sakiusa Tubuna expressed his worries regarding the low insurance coverage rates, urging discussions on how to improve the situation. Shandil pointed out that existing insurance products need thorough reevaluation to enhance their accessibility and affordability for the general population.
Amidst these discussions, Shandil highlighted successful models such as parametric insurance tailored for farmers, which offers a cost-effective and accessible solution during specific emergencies like severe weather events. She argues there is a necessity for similar affordable insurance products across other demographics to ensure a broader safety net for Fijians.
This call for reform aligns with ongoing debates regarding health insurance practices in Fiji. Previously, the Insurance Association of Fiji has addressed issues relating to financial barriers stemming from mandatory levies imposed by National Fire Authority, which further complicate the landscape of insurance affordability.
In light of these challenges, the Consumer Council is advocating for crucial systemic reforms. These changes would not only enable a more equitable insurance marketplace but also bolster financial resilience for many Fijians who are struggling to manage healthcare costs. By addressing these barriers, there is an optimistic outlook for enhancing insurance access and fostering greater consumer protection within the sector.
Overall, the push for legislative changes represents hope for a shift toward comprehensive solutions that can improve the lives of Fijians and ensure that they are not left vulnerable in times of need.
Leave a comment