November 2022

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 management team of the Pacific Catastrophe Risk Insurance Company (PCRIC), the Pacific Islands 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.

Speaking ahead of a series of meetings with the V20 in Washington DC, the Pacific Catastrophe Risk Insurance Company (PCRIC) CEO, Mr. Aholotu Palu, said he was immensely honoured to be invited as an observer to the ninth V20 Ministerial Dialogue to be hosted by the International Monetary Fund (IMF) in Washington DC on October 16, 2022.

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.

Following the extraordinary decision by the World Bank to close, with effect from the end of 2022, the PCRAFI project that supported the Pacific Islands region’s only sovereign disaster risk insurer, senior company representatives and the Board of Directors of the Pacific Catastrophe Risk Insurance Company (PCRIC) met in Auckland last week to chart a new course for the company.