PCRIC Participates in SPREP Pacific Climate Change Centre (PCCC) Partners Dialogue
17 March 2025
Pacific Catastrophe Risk Insurance Company and Pacific Tourism Organisation Commence Formal Collaboration to Strengthen Tourism Resilience in the Pacific
19 March 2025
PCRIC welcomed the opportunity to contribute to the Tonga National Tourism Forum held in Nuku’alofa, Tonga over 13-14 March, 2025. With the keynote address delivered by Her Royal Highness Princess Pilolevu, and attracting contributions from the International Trade Center (ITC), the Pacific Tourism Organisation (SPTO), NZ Maori Tourism, and Investments Fiji as well as local private sector and government stakeholders, the Forum addressed the theme of “Shaping a Resilient Future for Tonga in Times of Challenge”.
As is the case with many of the region’ island nations, a critical consideration for Tonga’s tourism sector is the means by which the industry can be better prepared to withstand and recover from the impact of devastating weather and climate change related events. Contributing to dialogue on factors critical to future planning, PCRIC was asked to speak specifically to the subject of strengthening the sector’s financial protection against natural disasters.
PCRIC Finance and Planning Manager, Mr. Henry Cocker shared valuable insights on disaster risk financing and its contribution to building resilience. He emphasised the important role of parametric insurance in helping mitigate the financial impact of natural disasters and highlighted how by taking proactive steps, Tonga can better protect its tourism sector and the overall economy.
With a regional mandate to help mitigate the financial impact of disasters at a government level, PCRIC is regularly queried on what it can do to help address the level of risk confronting this economically crucial sector. In this regard a small but important first step was taken earlier in March with the signing of an MoU between PCRIC and SPTO, a component of which is to collaboratively explore pathways to future development of a mechanism able to offer tangible support to the region’s tourism sector as it adapts to the impact of natural disasters and climate change. This will be a space to watch over the coming years.
