PCRIC Takes Pacific Voice to UNESCAP

Participating in a side event to the 13th annual UNESCAP Asia-Pacific Forum on Sustainable Development held in Bangkok, Thailand, PCRIC once again reinforced its position as the Pacific’s premier disaster risk finance institution with its strong contribution to the dialogue.

As a panellist addressing the subject of “Insuring the future: Building Resilient Cities and Sustainable Infrastructure” PCRIC highlighted that a clear priority for Pacific Island Countries was faster, more predictable financial protection to safeguard communities and critical infrastructure as climate and disaster impacts intensify. This would require higher levels of sustained commitment and engagement from development partners outside the region.

Speaking to PCRIC’s approach to multi-hazard disaster risk insurance coverage, a key strength was emphasised. With processes able to respond immediately once an insured event occurred, clients could expect to receive payout of a claim within 14 days. This rapid provision of liquid funds supports budget stability whilst essential relief expenditures are undertaken.

Pointing to the future, PCRIC noted that beyond addressing immediate post-disaster needs, its work also involved assisting clients in strengthening pre-disaster preparedness through improved contingency planning and disbursement readiness. Additionally, reference was made to the ongoing roll-out of the Disaster Risk Finance Adviser network and PCRIC’s education and scholarship initiatives all intended to boost local, on-ground DRF management capability.

PCRIC is mandated to proactively pursue the most appropriate DRF solutions for its constituents and will continue to actively represent the interests of the region on the global DRF stage.