Special Presentation to the Pacific Finance Ministers
Forum Economic Ministers Meeting 2022
Risk, Responsibility and Resilience
Warwick Le Lagon
Port Vila, Vanuatu
August 11th at 11.50am
PCRIC in 50 words
PCRIC serves the island nations of the Pacific as a key regional organisation dedicated to strengthening the resilience of the Blue Pacific Continent against the financial impact of climate and natural hazards.
Parametric Insurance, Disaster Risk Finance, Premium Financing, Technical Support, Disaster Relief Planning…
We are There When You Need Us Most
PCRIC Benefits in 50 words
PCRIC products are designed to meet specific needs articulated by Pacific Island nations, and in times of crisis, aim to deliver timely post-disaster funds / to support rapid relief.
Training, Assistance, Collaborations, Risk Pooling Financing, Fast Cash, Relief, Reconstruct, Rebound, Rebuild, Resilience, Hope
A Nation Is Defined By How It Treats Its Most Disadvantaged
PCRIC Origins in 50 words
PCRIC was endorsed during FEMM 15 as a dedicated insurance vehicle established by legal statute in the Cook Islands. The organization was tasked with the provision of a disaster risk insurance program to Pacific Island Countries on a long-term basis.
Conceptualised, Initiated, Endorsed and Owned by the Economic Minsters of the Pacific Region
PCRIC at the FEMM in 50 words
PCRIC is here at FEMM to demonstrate to government leaders that there are impactful, affordable, and rapid solutions available to help nations recover and maintain resilience in the immediate aftermath of a natural disaster. These solutions rely upon nations collectively pooling their risk to form a larger market unit which attracts more competitive risk pricing. Together, with a modest amount of our own resources, PCRIC is then able to deliver significant benefit to those of us facing the greatest of crises.