August 2024

As a side event during the 53rd Pacific Islands Forum Leaders Meeting, the PCRIC CEO, Mr. Aholotu Palu, participated in a panel discussion organised by SPREP’s Pacific Climate Change Centre (PCCC). The PCCC is a regional centre for climate change information, research and innovation. The panel included the Tongan Minister of Finance, the Hon. Tiofilusi Tiueti and the Acting Director of the Tonga Meteorological Service, Mr. Laitia Fifita.

Preparations in Tonga for the upcoming Pacific Islands Forum Leaders Meeting to be held in Nukualofa on the 26th to 30th August provided a valuable opportunity for the CEO of the Pacific Catastrophe Risk Insurance Company (PCRIC), Mr. Aholotu Palu and PCRIC management team to meet with the Hon. Prime Minister, Hon. Hu'akavameiliku and discuss the upcoming renewal of the nation’s disaster risk insurance policy.

Subsequent to productive discussions with the Vanuatu delegation during the Forum Economic Ministers Meeting (FEMM), PCRIC's CEO, Mr. Aholotu Palu, and Chief Risk Officer, Mr. Richard Poulter, met in Port Vila with the Hon. Minister of Finance and key technical staff leadership to explore redesign of the nation’s disaster risk insurance plan.

Following on from the Global Shield’s inaugural Fiji workshop on climatic impacts, PCRIC’s Regional Co-ordinator, Ms. Akosita Drova, represented the Company in the Republic of the Marshall Islands (RMI), at the second workshop. 

In an unexpected development during the recent Forum Economic Ministers Meeting (FEMM), the PCRIC CEO, Mr. Aholotu Palu, was invited to moderate the Forum Economic Ministers’ panel discussion session. Due to unforeseen circumstances, Mr. Palu was requested to take over the role from the PCRIC Board Director, Mr. Siosiua Utoikamanu.

The recent country mission to Samoa by PCRIC has paved the way for future dialogue with the Ministry for Public Enterprises on a recent development within PCRIC’s arsenal of DRF products.

A recent country mission to Samoa provided PCRIC with the opportunity to meet for the first time with SPREP’s Management team. Briefings covered the role of PCRIC in the region and what the company can offer in support of efforts by nations to build resilience and better counter the impact of climate change.

Consolidating discussions held on the sidelines of this year’s FEMM, a country mission to Samoa was undertaken by PCRIC to further explain policy details and options for parametric insurance ahead of the annual policy renewal period (November 1st 2024).

PCRIC recently participated in Global Shield’s inaugural Fiji workshop tackling climate risks. Held in Suva, the two-day workshop saw key local and international stakeholders given an impressive introduction to the Global Shield initiative highlighting its objectives and available support services.