Agri Assurance Ltd hosted their Morobe schools workshop today at the Lae International Hotel.
The agriculture, climate risk and disaster micro-insurance firm was recently established with the support of the Morobe Provincial Government.
Head teachers and staff from the Morobe provincial education division attended the Agri Assurance education workshop, where they were informed of options available to them to protect their infrastructure, staff and students.
Executive director and CEO of Agri Assurance, Mark Gabriel Baiai said insurance has become an important part of the social services delivery mechanism.
“Insurance is pretty much an issue of business houses because it concerns investments and protection of those assets,” he stated.
“In recent developments, in terms of climate change, it has brought about a new perspective as to how insurance can assist in providing protections to vulnerable people and communities, and their investments as well.
“Leading up to that is the development of insurance to support social services, such as education, health and sports.”
Baiai said AAL was incorporated and licensed to support social services delivery in the micro-insurance sector, where they look at supporting farmers, government services such as health and education, and government assets that are threatened by climate change and social disorder.
“We’re looking at how best we can work with the education sector to bring that protection, and support and sustain the work that the education sector is involved in.
“Morobe is the first in taking that insurance program because the Morobe government actually supported in the establishment of this organisation.
“Agri Assurance is a pilot project in Morobe and the success of this will be spread out across the country.”
Agri Assurance was established in 2017, started operations in 2020, and conducted assessment and awareness in the Huon Gulf district in 2021, focusing on health and crop insurance.
Baiai said the company was created as a result of a World Bank study in relation to agriculture and insurance, and the gap within insurance deliverables.
The company, located in Lae, offers grassroots healthcare benefits and healthcare insurance that targets the average Papua New Guinean.
(Executive director and CEO of Agri Assurance, Mark Gabriel Baiai)