October 2022

Earlier this week, the Pacific Resilience Partnership (PRP) Technical Working Group (TWG) on disaster risk financing (DRF), organized and facilitated the fourth virtual learning episode. With the theme, “Risk Transfer: Shifting the Responsibility for Risk”, the Pacific Catastrophe Risk Insurance Company (PCRIC) CEO Mr. Aholotu Palu joined the learning series as a panelist.

The Pacific Catastrophe Risk Insurance Company (PCRIC) received an invitation to an Expert Group Meeting (EGM) on Pacific Perspectives 2022 to be held virtually from October 27th to 28th.

The Pacific Catastrophe Risk Insurance Company (PCRIC) recently welcomed a visiting mission team from the World Bank to Fiji. With the confirmation that the Pacific Catastrophe Risk Assessment and Financing Initiative (PCRAFI) project would cease with effect by the end of 2022, which directly supported the establishment and operation of PCRIC, the World Bank team’s agenda was to assess the performance of the company prior to its formal closure.

Fresh off the outcomes derived from the recent Forum Economic Ministers Meeting (FEMM), the Pacific Catastrophe Risk Insurance Company (PCRIC) team met with colleagues from the disaster risk financing (DRF) technical working group to forge refined pathways ahead.

Following the kind invitation by the V20 (Vulnerable 20 Group) Ministerial Dialogue for the Pacific Catastrophe Risk Insurance Company (PCRIC) to be an observer, Mr. Pankaj Singh, the company’s Finance & Planning Manager represented PCRIC at the forum.

The Pacific Catastrophe Risk Insurance Company (PCRIC) management team, the region’s only provider of sovereign disaster risk insurance, are currently in Washington DC in preparation for the bi-annual Pacific Catastrophe Risk Insurance Foundation (PCRIF) Council of Members (CoM) meeting. 

Thursday, 13th October marked this year’s International Day for Disaster Risk Reduction, an initiative of the United Nations intended to promote a global culture of risk-awareness and disaster reduction and commemorated each year on 13th October.  

The ultimate governance body for the Pacific Islands region’s only provider of sovereign disaster risk insurance held their highly anticipated bi-annual meeting recently on the side-lines of the World Bank and IMF Annual Meetings in Washington DC.

Commenting on the recent US–Pacific Islands Country Summit held in Washington DC, CEO of the Pacific Catastrophe Risk Insurance Company (PCRIC), Mr Aholotu Palu, said that with the release of the first ever Pacific Partnership Strategy for the United States, the Summit represented a true watershed moment in US relations with the region.