The Southeast Asia Disaster Risk Insurance Facility (SEADRIF Insurance Company) has made payouts of USD 1.14 million to the Government of Lao PDR and the United Nations World Food Programme (WFP), after heavy rainfall and widespread flooding triggered both Lao PDR’s two-year parametric sovereign policy and WFP’s 2026 disaster resilience policy.
Prolonged southwest monsoon conditions and active low-pressure systems saw more than 260,000 people impacted by heavy rainfall and widespread flooding across Lao PDR, surpassing the 200,000-person mark reported by the Lao PDR National Disaster Management Office (NDMO), which triggered a first payout threshold under both SEADRIF policies.
The figures were verified by reinsurance broker Gallagher Re, the calculation agent which also structured and placed the Lao PDR parametric re/insurance programme on behalf of SEADRIF. Following verification, SEADRIF paid out USD 1 million to the Government of Lao PDR, under its USD 8 million annual coverage, and USD 137,500 to WFP, under its USD 1.1 million policy.
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