PCRIC in Dialogue with Tonga Communications Corporation

Nuku’alofa, Tonga: the recent mission to Tonga to advance awareness and understanding of parametric disaster risk insurance proved especially productive for the PCRIC team led by CEO, Mr. Aholotu Palu. Alongside meetings with government officials, Tonga Cable Ltd, and Tourism industry stakeholders, there was also opportunity to meet with executives from the Tonga Communications Corporation (TCC).

The nation of Tonga has long been a strong supporter of PCRIC and in response PCRIC has been keen to extend access to innovative disaster risk financing products beyond sovereign government to include state-owned enterprises and key economic sectors such as tourism.

This is a relatively new development for PCRIC which only last year launched its SEO and NGO product offering, with bespoke policies taken up in PNG and Fiji. Enabling access to rapid-response funding in the immediate aftermath of a disaster gives key service providers the opportunity to more quickly reinstate damaged infrastructure and minimise the community and financial impact of devastating natural disasters.

TCC representatives were briefed on a range of policy options for consideration and will further explore possibilities with PCRIC in the coming months.