Insurance in Fiji

The RBF licenses and supervises Fiji's insurers, brokers and agents under the Insurance Act 1998, the Insurance (Budget Amendment) Act 2025 and prudential standards. The market includes eight general insurers and two life insurers. In 2024, gross premiums reached FJD 476.0 million and net claims and policy payments reached FJD 254.2 million; general insurance accounted for FJD 114.9 million, with medical and motor cover prominent. Private insurance is available directly from a licensed insurer or through a licensed broker or agent. The RBF license should be checked before payment. The intermediary should explain the proposal and policy, and the premium should be paid to the insurer, broker or agent with a receipt in the insurer's name. Applicants should disclose all material facts, including pre-existing medical conditions, and check exclusions, limits, deductibles, waiting periods, renewal terms and claim deadlines. Premiums depend on the risk, cover, exclusions and sum insured, so Fiji has no single general tariff that applies to every policy. Fiji's statutory arrangements cover selected risks. The Fiji National Provident Fund (FNPF) is compulsory defined-contribution superannuation funded by employer and employee contributions. It supports retirement and specified withdrawals for housing, medical needs, education and unemployment, but it is not conventional social insurance. FNPF's Social Disability Benefit, known as SDB, recorded a FY2024 premium of FJD 35, a maximum benefit of FJD 8,500 and funeral assistance of up to FJD 2,000; eligibility includes conditions such as compulsory membership for at least 15 years, and amounts can change by year. The Accident Compensation Commission Fiji (ACCF) provides statutory no-fault compensation rather than a normal insurance policy. Its motor-accident scheme applies to accidents in Fiji involving registered vehicles from 1 January 2018, subject to exclusions, and can cover passengers, drivers and pedestrians. Recorded maximums are FJD 75,000 for permanent partial or other/death categories and FJD 150,000 for permanent total disability. An application generally has to be made within three years of the accident through an ACCF or relevant Land Transport Authority office. For employment injuries and occupational disease, the employer reports the case to the relevant authorities within 14 days, or within seven days when the injury results in death. The statutory process involves ACCF and the Ministry of Employment, Productivity and Industrial Relations. Employer payments can be two-thirds of weekly earnings for up to 260 weeks under the 2018 regulations. This statutory process is distinct from private cover and should not be confused with a general private workers' compensation policy. Property, fire and motor insurance have practical relevance because Fiji faces cyclone and flood exposure. A 2024–2026 RBF, SUN and Tower parametric climate-insurance project uses predefined rainfall or wind triggers and targets 5,000 vulnerable households; payment depends on the product's documented trigger rather than an ordinary loss assessment. Business, liability and travel insurance are also available, with scope determined by each policy. Claims follow the policy terms and the insurer's process. Motor third-party claims should be reported promptly and may have a deadline of 30 days under RBF guidance. Police reports, photographs, receipts and medical reports can support a claim. ACCF applications may require identification, a police report, medical evidence, a birth or death certificate and a bank statement. General cover normally has an expiry notice period of at least 14 days. If the insurer gives no notice and the policyholder has not arranged replacement cover, the policy can continue periodically at no more than the original premium. An insurer's written cancellation notice generally cannot take effect earlier than 14 days for general insurance or 28 days for life insurance. For life insurance and prescribed classes, a written return within 28 days can provide a full premium refund. Paid-up or surrender options commonly arise after at least three years of premiums, subject to the policy. A complaint should first go in writing to the insurer, broker or agent. The policyholder can then escalate it to the RBF Financial Inclusion and Market Conduct Unit or through the RBF eService. The RBF is a regulator, not an ombudsman or court; its stated process includes acknowledgement within three working days, an institutional response within seven working days and an outcome target of 21 working days. An insurer generally remains responsible for the conduct of its appointed agent, and judicial remedies remain possible. Fiji insurance business is generally restricted to licensed insurers. An offshore placement requires an application and approval from the RBF. Policy documents must not be misleading, and premiums and sums insured are generally stated in FJD; another currency requires RBF permission. Compliance problems under the Act do not automatically invalidate a policy, so the policy wording, disclosures and claim evidence remain central.