Stakeholders to discuss Insurance tomorrow

Astakeholders’ seminar on ‘Property Insurance’ focussed on products, policies, regulations and consumer concerns related to property insurance will be held tomorrow. The Consumer Council of Fiji will host this seminar at Novotel Hotel in Lami. The Council chief executive officer, Premila Kumar said this seminar is aimed at bringing all key-players of the country’s insurance industry under one roof for a robust discussion to find a way-forward to create an inclusive insurance market which can be accessible to the low-income earners in the country. “The Council believes that insurance is crucial in a modern and a progressive society like ours but unfortunately, not all consumers, particularly, those in the lower economic strata are benefitting,” she said. The chief guest at the seminar would be Attorney-General and Minister for Economy, Aiyaz Sayed-Khaiyum.

Also a special guest at the event would be the chief executive officer, Alan Kirkland of CHOICE- Australia’s leading consumer organisation. “He will speak on reforms in the Australian insurance sector,” Ms Kumar said. Other speakers include representatives from the Insurance Council of Fiji, Fiji Institution of Engineers, South Pacific Engineer’s Association, Fiji Architects Association, and Reserve Bank of Fiji as the regulator of the country’s insurance industry. The Fiji National Provident Fund and Housing Authority of Fiji will speak at the seminar being the biggest buyer and negotiator of property insurance here. Other points which will be discussed during the seminar will be related to transparency in the insurance sector including education and awareness programmes on insurance.