SEADRIF Insurance Company, in collaboration with the United Nations World Food Programme, has launched a parametric insurance policy in Lao PDR designed to offer swift financial aid to communities affected by extreme weather events. With funding from the Global Shield Financing Facility, this policy can deliver up to $1.1 million when at least 200,000 individuals are impacted by hazards like floods or earthquakes. Highlighting its potential to enhance emergency readiness, officials emphasized the crucial role of timely financial support for vulnerable populations. This initiative serves as a model for future disaster risk financing in the region. Source and details of the news