Recognised as the foremost representative of the Pacific Island nations’ collective political and economic ambitions and endeavours, PIFS has a long-held interest in the impact of climate change and natural disasters on member countries. As such PIFS has a been a long-standing partner with PCRAFI and integral to the creation of the PCRIC, contributing significantly through its role in convening political dialogue and knowledge exchange.
More recently, PCRIC was graciously awarded observer status within PIFS. This is seen as a critical step to the full ‘regionalisation’ of PCRIC’s work and greatly enhances opportunities for cooperation and collaboration with other Disaster Finance and Insurance initiatives and programs operating across the region.
SPC is the principal scientific and technical organisation in the Pacific region. It made a major contribution to the PCRAFI program by utilising their risk assessment expertise to develop the Pacific Risk Information System (PacRis). This is a geospatial data management platform that provides a central repository for national and regional hazard and exposure data, which are necessary inputs to run the insurance model that underpins PCRCI insurance products. SPC has an ongoing role through ensuring the PacRIS data is revised and updated to capture any variations in key parameters over time.
DRFI was established to improve the financial resilience of governments, businesses, and households against natural disasters. The initiative supports governments to implement comprehensive financial protection strategies, and brings together sovereign disaster risk financing, agricultural insurance, property catastrophe risk insurance, and scalable social protection programs. It also helps governments work with the private sector to facilitate public-private partnerships.
The Global Facility for Disaster Reduction and Recovery (GFDRR) is a global partnership that helps developing countries better understand and reduce their vulnerability to natural hazards and climate change. It operates as a grant-funding mechanism managed by the World Bank and supports disaster risk management projects worldwide through the provision of knowledge, funding, and technical assistance.
The vision of the InsuResilience Global Partnership is to strengthen the resilience of developing countries and to protect the lives and livelihoods of poor and vulnerable people from the impacts of climate shocks and disasters by enabling faster, more reliable and cost-effective responses.
The UN Capital Development Fund makes public and private finance work for the poor offering “last mile” finance models that unlock public and private resources. An informal partnership exists between PCRIC and UNCDF via UNCDF’s Pacific Insurance and Climate Adaptation Program (PICAP). This entity aims to improve the financial preparedness and resilience of Pacific people towards climate change and natural hazards. We work to ensure a collaborative and complementary development of products and services of benefit to the region.
The Centre for Disaster Protection finds better ways to stop disasters devastating lives and economies, by supporting countries to better manage disaster risk.
The following international reinsurers provide protection for PCRIC’s current portfolio:
- Descartes Underwriting per Generali Assicurazioni
- Mitsui Sumitomo Insurance Co, Japan
- Liberty Mutual Reinsurance
- Hiscox Syndicate at Lloyd’s