BSP, IC push parametric insurance for climate-exposed sectors

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,