PCRIC Meets with Niue

With the official start of FEMM 24, the PCRIC team met with the Niue delegation to discuss potential amendments to the existing tropical cyclone parametric insurance policy taken out in 2023. Niue has approached PCRIC to explore enhancements to this policy that would provide coverage for the stunning Beveridge Reef, one of the country’s most highly valued marine assets.

Design of the enhanced policy would allow for an expected payout should the eye of a tropical cyclone of Category 3 or greater, enter a 30km circle centred on the reef. Funds released would assist in remediation and restorative work to the fragile reef ecosystem, making a major contribution to the resilience of this tiny nation.