Expanding the Reach of Disaster Insurance 

While attending CHOGM 24 in Apia, Samoa, the PCRIC team met with representatives from London-based Lloyds who spoke of their current collaboration with UNCDF focused on development of micro-level insurance suited to the Pacific. Both organisations recognise the need to ensure that the financial impact of natural disasters is better addressed through insurance mechanisms which decrease the burden on national government finances, particularly in small island states, where resources can be overwhelmed by the scale of the recovery process.

With PCRIC and UNCDF working to effect change at different ends of the challenge, there was acknowledgement of the complementary nature of the effort contributed by both PCRIC and Lloyds toward the goal of supporting community insurance markets in Small Island Developing States.