PCRIC Invited to Speak at International Side Event

The Pacific Catastrophe Risk Insurance Company (PCRIC) has been invited to speak at a side event during the 79^th UNESCAP Commission Session based on the theme, “Approaches to Loss and Damage from a Pacific Perspective.”

This side event is being jointly organized by the Pacific Islands Forum Secretariat (PIFS) and the UNESCAP Subregional Office for the Pacific where the CEO, Mr. Aholotu Palu, will represent the company in this auspicious gathering.

Loss and damage caused by climate change poses significant economic and social challenges, particularly for island nations that have limited resources to protect or rebuild themselves from any severe disasters. As these nations strive to protect their communities, building financial resilience becomes crucial in avoiding and mitigating the impacts of loss and damage. In this context, PCRIC emerges as a key player, offering tailored services that can bolster financial resilience in the face of these challenges.

Financial protection and resilience is a critical component of avoiding loss and damage caused by climate-induced disasters through creating a robust financial instrument that quickly provides cash to Pacific countries pre and post climate-related impacts.

PCRIC is a financial instrument that was established to offer services aimed at strengthening a country’s financial resilience in order for them to protect themselves from the severity of the impacts caused by climate change.