Donors

Donor Engagement

PCRIC has been consistently recognised for its commitment to active and effective donor engagement. Every effort is made in formal engagements throughout the region and whenever possible in our public relations activities to ensure there is grateful acknowledgment of the essential role played by donors.

PCRIC recognises its obligations to all donors which have chosen to prioritise investment in the DRF advocacy and support role played by the organisation.

Origins and Current Operations

PCRIC is based in the region, working for the region. Our origins trace back to pilot disaster insurance program launched by the World Bank in 2013 under the Pacific Catastrophe Risk Assessment and Financing Initiative (PCRAFI). This program introduced insurance as a mechanism to help address the Pacific Island region’s enormous exposure to the negative financial impact of natural and climate change induced disasters.

At the request of regional leaders and funded by generous donor support, PCRIC was created as an operational Regional Insurance Risk Pool entity subsequent to the conclusion of the PCRAFI pilot program in 2015.
Incorporated in the Cook Islands, PCRIC’s currently operates from a base in Fiji. This arrangement places PCRIC within easy reach of key regional organisations such as the Pacific Islands Forum Secretariat and others, as well as the regional offices of many global development agencies.

Whilst backed by a significant capital reserve funded by the original donors, PCRIC’s recurrent revenue streams are confined to receipt of insurance premiums paid by member countries, and investment returns on our capital reserve.
Consequently, ongoing donor support remains essential to funding operations, product and service innovation and maintaining the momentum and impact generated through PCRIC’s unique enabling position in one of the most vulnerable and disaster prone regions on the planet.

Value Proposition for Donors

Deeply embedded in the CDRIF infrastructure of the Pacific Islands region, with standards of accountability, transparency and governance meeting compliance requirements of established global donors, PCRIC offers a tested, accountable, fit-for-purpose platform intimately familiar with the operational challenges of the Pacific Islands.

This proven foundation enables the precise alignment of clearly defined needs of regional nations with the priorities and preferences of donors’ international assistance budgets and programs. It provides the necessary reassurance and confidence that funds provided to address disaster risk needs and loss and damages restitution are fully secure and carefully administered.

Donor Opportunities

PCRIC’s positive impact and future growth trajectory provide an exciting range of opportunities for current and new donors. Partnering with PCRIC give donors a front row seat in work which targets critical market gaps left by the private sector, enabling donors to take a direct role in positively impacting pre-and post-disaster outcomes experienced by thousands of vulnerable communities throughout the region each year.
PCRIC’s market reach embraces 17 nations and over 13m people throughout the Pacific Islands region. Working with various technical partners our services include:

• Risk assessment and evaluation
• Development of tailored risk transfer tools (insurance products) for which an annual premium applies
• Education and training in Disaster Risk Management (local, regional, online)
• Advocacy at an international level highlighting the region’s vulnerability and exposure to massive financial risk due to disaster impact.

Engaging with PCRIC ensures donor support directly contributes to enhanced disaster risk management capacity, strategies and outcomes benefiting national governments, select NGOs and SOEs. In future, the portfolio will expand to include socially and economical critical private sector entities in sectors such as agriculture and tourism .