DRFF in the News
Feb 20
2018
COOK ISLANDS, February 20, 2018 – In the wake of Cyclone Gita, the government of Tonga received a US$3.5 million payout from the Pacific Catastrophe Risk Insurance Company (PCRIC) based on its insurance cover against tropical cyclones. Funds were transferred after seven days of the cyclone event, providing the government with rapid-response financing to support disaster-relief efforts and effective service delivery to the affected areas. Tonga is one of five Pacific Island countries that... Keep reading
Nov 21
2017
COOK ISLANDS, November 21, 2017 – Total catastrophe risk insurance coverage of Pacific Island Countries (PICs) increased 19% for the 2017-18 cyclone season that began on November 1, 2017. The Pacific Catastrophe Risk Insurance Company (PCRIC) was able to secure a coverage limit of US$45 million for five participating countries - Cook Islands, Republic of the Marshall Islands, Samoa, Tonga, and Vanuatu. The PCRIC is a regional catastrophe insurance platform that offers sovereign parametric... Keep reading
Nov 16
2017
Livelihoods for Georgia’s agricultural workers, accounting for more than half its labor force of about 2 million, are threatened by growing climate risk. Photo credit: World Bank The effects of climate change are already increasingly visible around the globe. Images of the devastating hurricanes in the Caribbean are fresh on the minds of participants in the 23 rd Conference of Parties ( COP23 ), underway this month in Bonn, Germany, where leaders have gathered to accelerate the transformation... Keep reading