Tower Introduces parametric rainfall coverage in Fiji

Tower Insurance has launched Rainfall Response Cover, a new parametric product designed to deliver fast, automatic cash payouts to Fijian communities during the wet season when rainfall crosses predefined thresholds. The coverage pays regardless of damage and does not require an assessor, aiming to speed up financial relief for households facing increasingly severe weather.

The Reserve Bank of Fiji welcomed the launch, describing it as an important addition to the country’s growing suite of parametric microinsurance options. Fiji ranks among the world’s most vulnerable nations to natural hazards, making simplified protection especially relevant.

Rainfall Response Cover expands Tower’s parametric offering, which already includes Cyclone Response Cover, and continues its work with CelsiusPro to deliver products through a digital platform supporting premium calculation, weather monitoring and automated payouts. The pilot, supported by UNCDF and the Pacific Insurance and Climate Adaptation Programme under the InsuResilience Solutions Fund, will run through the 2025–2026 wet season with subsidized premiums before a planned nationwide rollout next year.