Re: Insurance on Natural Disaster
Why is the government of Samoa charging GST on Insurance Policies covering Natural Disaster like Cyclones, Earthquake, Tsunami, Flooding and Lighting etc.
Government should encourage people to take out Insurance Policies to be prepared for such events and not profit from it. 15% is a lot of money for many people and that is why people don’t take out policies.
It is also lessen the burden on government if such events happened.
Be prepared and don’t soot yourself in the foot.