November 2023

Joining a growing number of governments throughout the Pacific region intent on ensuring a greater capacity to withstand the financial impact of natural disasters on their nations, the Government of Niue recently secured valuable coverage for the island nation through purchase of a tropical cyclone parametric insurance policy provided by PCRIC.

A significant milestone has just been reached in the Fiji Government’s pursuit of an improved capacity to respond to the financial impact of natural disasters upon the nation. After the recent signing of a Commitment Letter at the PCRIF Council of Members meeting held in Morocco on the margins of the World Bank/IMF Annual Meetings on October 9th, Fiji has now firmly established the nation’s participation in PCRIC’s tropical cyclone and excess rainfall parametric insurance program with the signing of the PCRIC Parametric (Agreed Valuation) Insurance Policy documents yesterday in Suva.