PCRIC Formalizes MOU with the Centre for Disaster Protection

The Pacific Catastrophe Risk Insurance Company (PCRIC) has signed a Memorandum of Understanding (MoU) with the Centre for Disaster Protection, establishing a framework for collaboration on common interests in disaster risk management and financing. This MoU provides a platform for partnership in areas including Technical Assistance and Capacity Building, Advocacy, and Research and Evidence.

This collaboration goes beyond the mere exchange of ideas and data; it enables PCRIC and the Centre to work together throughout the Pacific Islands region. Their efforts will include delivering training, workshops, and other events to raise awareness about the necessity for enhanced disaster risk financing solutions. The partnership aims to improve the quality and availability of risk financing products and services, allowing high-risk, vulnerable countries to make better-informed risk management decisions.

Mr. Aholotu Palu, CEO of PCRIC, expressed enthusiasm for the collaboration, stating, “The company is delighted to be associated with the Centre for Disaster Protection to support Pacific countries. Our collaborative aspirations will further enhance our work in serving our region.”

He added, “The PCRIC team looks forward to advancing our shared vision in addressing regional needs, and this partnership is a testament to our commitment to fostering global cooperation for the benefit of the Pacific.”

Sophie Evans, Associate Director – Advisory for the Centre for Disaster Protection, remarked, “We welcome the opportunity to work with PCRIC to support at-risk Pacific communities in identifying, planning for, and financing disasters before they occur. Transitioning from reaction to readiness is a significant challenge that requires collective thinking and bold action.”

PCRIC is dedicated to the benefit of the island nations of the Pacific and specializes in providing disaster risk finance services and solutions to the region. The organization delivers a support program built on leading-edge technical assistance, targeted collaborations, and innovative product options. Its mission is to help nations better prepare, structure, and manage finances to foster disaster resilience and ensure rapid access to funds when they are needed most.

The Centre for Disaster Protection, funded by UK aid from the UK government, focuses on finding and sharing effective ways to prepare for and respond to disasters, aiming to significantly reduce the impact of disasters on people’s daily lives and on long-term development. The organization seeks to understand how to reach and support those in need, ensuring that funds and plans are in place before disasters strike, thereby shifting efforts from reaction to readiness.

For more information, please contact:
ceo@pcric.org or aholotupalu@yahoo.co.uk