The government has partnered with global conservation organization Rare and solutions company Willis to launch a pioneering parametric insurance program to protect subsistence fisherfolk affected by extreme weather. The insurance program aims to cover 14,200 fisherfolk in 24 municipalities. The payout is $100 per policy cycle to compensate for income lost when rough seas, high winds, or heavy rainfall prevent fishing activities.

Villamiel, V. A. E. (2025, November 13). Subsistence fisherfolk to be enrolled in insurance plan offering quick payouts. BusinessWorld, p. S1/4.