PCRIC and WTW Strengthen Pacific Disaster Coverage

The Pacific Catastrophe Risk Insurance Company (PCRIC), partnering with WTW, has renewed insurance policies and reinsurance arrangements for Pacific Islands’ governments and government – linked entities. With support from WTW’s Disaster Risk Finance and Alternative Risk Transfer teams, PCRIC has enhanced policy designs, bettering access to disaster risk insurance in the Pacific.

For 2024 – 2025, PCRIC will offer coverage against tropical cyclones, heavy rain, earthquakes, and tsunamis. The beneficiaries include six Pacific governments like the Cook Islands, Fiji, and others, as well as PNG DataCo in Papua New Guinea and the Vatuvara Foundation in Fiji.

PCRIC’s insurance tools are crucial as they target the growing climate change impact in the region. They play a vital role in safeguarding local people, economic assets, and essential infrastructure such as coral reefs.

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