Tanzania's Lake Zone, a key economic region contributing nearly 20% of the country's GDP, remains vulnerable to financial risks due to low insurance coverage.The region, home to over 14 million people, generates around 40 trillion shillings annually but has insurance penetration at just 0.09% of GDP.Mwanza leads in insurance premiums, but other areas like Simiyu lag significantly.Risks include climate impacts on agriculture, accidents in fishing, and operational challenges in mining and trade.Low insurance uptake is driven by mistrust, affordability issues, and informal economic practices.

Stakeholders are urged to develop tailored solutions like weather-indexed insurance and flexible payment options to protect livelihoods and sustain economic growth.