PCRIC acts as Regional Company for One Blue Pacific Continent
PCRIC is a regionally focused captive insurance company owned by Pacific Island nations through the Pacific Catastrophe Risk Insurance Foundation (PCRIF), based in the Cook Islands. As a captive insurance company, our endeavours are directed entirely toward the disaster risk insurance requirements of Foundation member countries. Our products are designed to meet specific needs identified by Pacific Island nations, and in times of crisis aim to deliver timely post-disaster liquidity to support rapid relief. In addition, we are able to facilitate technical assistance to help countries build resilience to disaster and climate risks and in this way help them sustain development gains.
Current Pacific Island country members of the Foundation (PCRFI) are Cook Islands, Fiji, Marshall Islands, Samoa, Tonga and Vanuatu. All other member nations of the Pacific Island Forum Secretariat (PIFS) are eligible and are actively encouraged to become members.
Our Value Propositions
For Regional Governments:
To foster resilience and ensure rapid access to unencumbered liquid funds when the nation is in crisis, PCRIC educates, collaborates and innovates, partnering with governments of the Blue Pacific Continent to better prepare, structure and manage disaster risk finances.
For Donors:
PCRIC provides donors with a secure, transparent and well established structure which enables precise alignment of the requirement for disaster risk financing support in the Pacific Islands region with the foreign aid priorities of donor nations.