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.
The purpose of the meeting was to discuss and explore solutions for their damaged communications infrastructure. This meeting was a result of the ongoing collaboration between PCRIC and PNG DataCo Limited, which piqued the interest of Tonga Cable Limited’s Chairman.
During their discussions, the PCRIC team shared their current work with their Papua New Guinea counterpart, highlighting the development of an innovative parametric earthquake insurance coverage specifically tailored for submarine cable systems, leveraging their technical capabilities and access to risk models to design products as needed.
PCRIC is committed to helping the Pacific region mitigate risks and provide them with the financial protection they seek, just as what is currently underway with PNG DataCo Limited.
