Press Releases

The Pacific Catastrophe Risk Insurance Company (PCRIC) technical team have been engaged in in-depth discussions with PNG DATACO LIMITED, a state-owned entity in Papua New Guinea that provides wholesale services to the information and communication industry, mandated to build, own and operate the national transmission network.

The Pacific Catastrophe Risk Insurance Company (PCRIC) and Willis Towers Watson (WTW) mission team were recently in the Republic of the Marshall Islands (RMI) to conduct drought consultations.

The Pacific Catastrophe Risk Insurance Company (PCRIC) and Willis Towers Watson (WTW) were recently in Kiribati to conduct the second phase of drought consultations with stakeholders such as the Ministry of Finance and Economic Development (MFED), the National Disaster Management Office (NDMO), the Kiribati Meteorological Service, the Ministry of Infrastructure and Sustainable Energy and the Ministry of Agriculture.

Domiciled in the Cook Islands, the Pacific Catastrophe Risk Insurance Company (PCRIC) Management team visited the country for the first time on a mission to hold a series of high-level meetings with various relevant authorities including the Prime Minister and Minister of Finance, Honorable Mark Brown.

As the region’s own specialist provider of sovereign Disaster Risk Management solutions, the Pacific Catastrophe Risk Insurance Company (PCRIC) was concerned to hear of the 7.0 magnitude earthquake which struck the Solomon Islands on Tuesday afternoon. The powerful tremor knocked out electricity and communications in the capital city and was accompanied by several aftershocks.

The ultimate governance body for the Pacific Islands region’s only provider of sovereign disaster risk insurance held their highly anticipated bi-annual meeting recently on the side-lines of the World Bank and IMF Annual Meetings in Washington DC.

Thursday, 13th October marked this year’s International Day for Disaster Risk Reduction, an initiative of the United Nations intended to promote a global culture of risk-awareness and disaster reduction and commemorated each year on 13th October.

The management team of the Pacific Catastrophe Risk Insurance Company (PCRIC), the Pacific Islands region’s only provider of sovereign disaster risk insurance, are currently in Washington DC in preparation for the bi-annual Pacific Catastrophe Risk Insurance Foundation (PCRIF) Council of Members (CoM) meeting.

Speaking ahead of a series of meetings with the V20 in Washington DC, the Pacific Catastrophe Risk Insurance Company (PCRIC) CEO, Mr. Aholotu Palu, said he was immensely honoured to be invited as an observer to the ninth V20 Ministerial Dialogue to be hosted by the International Monetary Fund (IMF) in Washington DC on October 16, 2022.