SEADRIF Insurance Company makes 2 payouts for a total of US$1.5 Million to support flood response in Lao PDR within 1 business day
SEADRIF Insurance Company joins the Sovereign Catastrophe Risk Pools Alliance
July 17, 2023
The SEADRIF Insurance Company Welcomes Ms. Hien Anh Than as Executive Director and Board Director
September 22, 2023
On Monday 14 August 2023 the SEADRIF Insurance Company made two payouts totaling US$1.5 Million directly to the Government of the Lao PDR to provide rapid support to the country. This is just 1 business day after the Lao PDR Ministry of Finance submitted the notice of loss forms to trigger two payouts on Friday 11 August 2023.
The SEADRIF Insurance Company is part of the broader SEADRIF Initiative that provides participating ASEAN member countries with technical advice and financial solutions against climate shocks and natural disasters. The SEADRIF Insurance Company issued its first product to the Government of the Lao PDR in February 2021 for protection from floods and other perils. These two payouts come from the finite insurance component under this insurance policy.
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