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MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) and the Insurance Commission (IC) are pushing parametric insurance products to widen financing access for climate-exposed sectors
In a statement on Thursday, the BSP said a recent webinar discussed how bundled parametric insurance could sustain lending to climate-vulnerable sectors and strengthen risk management.
Climate-vulnerable sectors include agriculture, fisheries, and micro, small and medium enterprises (MSMEs), among others.
READ: Insurance Commission, crop insurer bolster services
