Regional Microinsurance Essential for Inclusive Disaster Protection   

As an adjunct to the recent DRF workshop in Suva, a meeting was convened between PCRIC CEO, Mr. Aholotu Palu and Deputy Director for Financial Protection & Vertical Funds at the Climate Vulnerable Forum (CVF)  and the Vulnerable Twenty Group (V20), Mr. Pankaj Singh, to advance dialogue on strengthening microinsurance mechanisms within the Pacific region.

There was acknowledgement of the potential for PCRIC to act as an anchor institution for a regional reinsurance facility which would stimulate growth in domestic insurance markets and provide valuable support for private microinsurance providers. Such a platform would also contribute directly to the progressive deepening of capital markets across at-risk developing nations.

As the region’s leader in the provision of DRF solutions, PCRIC remains committed to pursuing innovative pathways to extend the reach of parametric insurance as a practical instrument within sustainable development frameworks delivering durable and inclusive climate finance solutions. Importantly, such dialogue with CVF / V20 draws attention to the specific needs of underserved segments of society where there is a clear need to strengthen protection for households and micro, small and medium-sized enterprises.