PCRIC Participates in the International Development Forum Summit 2024
PCRIC was recently invited to attend the annual Insurance Development Forum (IDF) Summit held recently in London, UK, and was represented by Mr. Richard Poulter, PCRIC’s Actuarial Advisor. The summit provided an opportunity for PCRIC to engage with the IDF and the wider resilience and development community to debate pressing issues, exchange knowledge and share best practices and innovations.
The #IDFSummit2024 focused on the theme “Why Insurance Matters? Prevent, Protect, Provoke,” with delegates sharing knowledge on important issues such as Climate and Disaster Risk Finance & Insurance, risk modelling, reforming the international financial system and the role of insurance. Further panel discussions focused on issues such as global uncertainty and future risks, mobilising insurance sector investments into resilient infrastructure in developing and emerging economies, and the financial protection of public assets.
Delegates were the first to hear the announcement that the IDF, and French Development Agency Group (Agence Française de Développement and Expertise France (AFD Group), had formed the Integrated Disaster Risk Management Alliance (IDRIMA) – a unique strategic partnership which aims to strengthen the long-term resilience of sovereign, sub-sovereigns and public utilities in the Global South. PCRIC is actively exploring potential collaboration with the AFD group, which the PCRIC CEO will discuss further at the upcoming Sustainable Finance in the Indo-Pacific Conference, co-organised by the AFD and the Asian Development Bank to be held in Bangkok, Thailand on 24th June 2024.
The summit offered an opportunity for Mr. Poulter to engage in bilateral discussions with key donor and development partners, in particular on PCRIC’s growing membership base and the increased demand for disaster risk finance solutions to build resilience across the Pacific region.
Speaking at the summit, Mr. Poulter stated that, “The IDF Summit has provided PCRIC the opportunity to be at the forefront of thinking and innovation in the Climate and Disaster Risk Finance space, and contribute to the discussion on how regional risk pools like PCRIC can help build resilience in the face of growing disaster risks.”
The discussions were very positive, with acknowledgement of PCRIC’s strong progress in the past few years, including the development of new products to serve a broader range of countries across the Pacific region. PCRIC would like to thank the IDF for the invitation to attend this important event and contribute to the discussions on how insurance can play a pivotal role in building resilience and fostering development.
