Adjusting to Changing Times with Unwavering Principles
PCRIC offers financial products to provide PICs with finance in the immediate aftermath of a natural disaster event. By providing rapid liquidity to affected PICs, PCRIC helps countries respond quickly and sustain hard-won development gains. PCRIC policies renew on the 1st of November every year for a 12-month period.
To achieve its objective PCRIC operations are guided by five main strategic themes:
Regional Integration
Become a Pacific Islands institution and the regional provider offering disaster risk financing and insurance products
Technical Capability
Effectively and efficiently operate regional open risk information and underwriting platforms
Compelling Value Proposition
Deliver on the reasonable expectations of clients and other stakeholders
Global Partnering
Fully leverage the global Climate Risk Insurance landscape to the benefit of Pacific Island countries and peoples
Operational Excellence
Ensure PCRIC is an effective organization with sustainable financing.
Membership in the Pacific Catastrophe Risk Insurance Facility provides Pacific nations with access to disaster risk finance programs and instruments. Currently, 6 Pacific nations have joined as members along with 4 donor countries, supported by the World Bank and other partners.