Articles

May 5, 2023

Council of Members Acknowledge the Availability of Premium Finance for Pacific Island Countries in 2023

The Pacific Catastrophe Risk Insurance Foundation (PCRIF) recently held its first Council of Members (CoM) meeting for 2023, which was chaired by Mr. Patrick Langrin, the Secretary of Finance for the Republic of the Marshall Islands.
May 4, 2023

PCRIC Gains Support from Fiji Government Official for its Work in the Region

Earlier this week, the Pacific Catastrophe Risk Insurance Company (PCRIC) team met with the Assistant Minister for the Fiji Ministry of Women, Poverty Alleviation & Children, Honorable Sashi Kiran.
April 24, 2023

PCRIC Welcomes Legal Intern to the Team

We are thrilled to announce that Ms. Ana Takau has joined the Pacific Catastrophe Risk Insurance Company (PCRIC) team as our newest legal intern. She hails from the Kingdom of Tonga and currently studies Law at The University of the South Pacific.
April 19, 2023

PCRIC Participates in the Second Sovereign Risk Pools CEO Summit

PCRIC participated in the second Sovereign Risk Pools CEO summit in Washington D.C. on the margins of the World Bank / IMF Spring Meetings. The meeting was attended by representatives of the Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company (CCRIF SPC) and the African Risk Capacity (ARC) Group, along with development partners from the Centre for Disaster Protection (CDP) and Willis Towers Watson (WTW) Climate Resilience Hub technical team members.
April 18, 2023

PCRIC addresses the V20 Ministerial Dialogue X

The PCRIC CEO was asked to address the 10th Ministerial Dialogue of the V20 as part of the roundtable on the G7-V20 Global Shield against Climate Risks and Debt Sustainability. The session heard from representatives from V20 nations on the climate crisis, the rising risk of disasters, and how the Global Shield best be harnessed to set about a sea-change in pre-arranged and trigger-based financial protection against climate risks.
April 17, 2023

PCRIC Approached by Another SOE on Insurance Solutions 

The Pacific Catastrophe Risk Insurance Company (PCRIC) team recently engaged in a productive conceptual discussion meeting with representatives from Tonga Cable Limited, a public enterprise responsible for managing a submarine fibre optic cable that connects Tonga to an international network service, ensuring reliable, safe, and affordable high-speed internet for the country. 
April 17, 2023

PCRIC Attends World Bank Event

The Pacific Catastrophe Risk Insurance Company (PCRIC) team recently had the honor of attending an event at the World Bank headquarters in Washington, D.C., where Fiji's Deputy Prime Minister and Minister for Finance, Strategic Planning, National Development, and Statistics, Hon. Professor Biman Chand Prasad, was a distinguished panelist. The event focused on the theme, "The Imperative of Climate Change Adaptation in East Asia and the Pacific."
April 4, 2023

PCRIC Undertakes Necessary Preparatory Work to Open a Premium Support Facility for Pacific Countries

The Pacific Catastrophe Risk Insurance Company (PCRIC) team met with the Cook Islands’ Solicitor General, Mr. Lauaki Jason Annandale and Financial Service Commissioner, Ms. Cheryl McCarthy last week to prepare to open a premium financing facility under PCRIC’s segregated portfolio structure and governance framework.
April 4, 2023

PCRIC Seeks Partnership with SPREP 

The Pacific Catastrophe Risk Insurance Company (PCRIC) is actively seeking to establish a partnership arrangement with the Secretariat of the Pacific Regional Environment Programme (SPREP) as part of its efforts to improve the collection, analysis, and sharing of natural disaster information and data in order to support the development of tailor-made parametric insurance products that can effectively mitigate climate and disaster risks in the region.