While in Tonga, the Pacific Catastrophe Risk Insurance Company (PCRIC) CEO, Mr. Aholotu Palu, was cordially invited by the Senior Development Programme Coordinator of the New Zealand High Commission, Nuku’alofa, Tonga to provide a brief presentation on its role in the Pacific region as a risk pool. PCRIC appreciated the opportunity to raise awareness to both their team and donor partners with respects to disaster risk finance and parametric insurance products.
The hour-long information session allowed participants to learn and understand more about the various insurance instruments that are readily available to regional leaderships to support disaster response/relief efforts with highly valued, quick pay-outs that occur under its risk pool parametric insurance policies, along with expert technical assistance on offer when required.
The meeting is timely especially when stakeholders endeavour to understand the linkage of PCRIC’s services against the loss and damage conversation.
Participants who attended the session left with a demonstratable gain in knowledge of PCRIC’s services and the importance of being proactive against natural hazards.