insurance facility

The World Bank supported Pacific Catastrophe Risk Insurance Pilot has paid Vanuatu $1.9m after the risk pooling facility was triggered by Category 5 Cyclone Pam which struck the Pacific island nation on March 13th.

The parametric Pacific Island catastrophe risk insurance and reinsurance pooling initiative, the Pacific Catastrophe Risk Insurance Pilot, may have been triggered by Cyclone Pam which made a direct hit on Vanuatu as a strong Category 5 storm.

The Governments of Samoa, Tonga, Cook Islands, Vanuatu and the Marshall Islands have called for an extension to the Pacific Catastrophe Risk Insurance Pilot (PCRIP), which was renewed for its third term on November 1st 2014.

The Pacific Catastrophe Risk Insurance Pilot, which provides parametric insurance cover for tropical cyclone (typhoon) and earthquake, including tsunami, risks to a group of Pacific Islands, has made its first payout to Tonga after cyclone Ian.

The Pacific Catastrophe Risk Insurance Pilot, a disaster insurance facility which provides parametric insurance cover for tropical cyclone (typhoon) and earthquake, including tsunami, risks to a group of Pacific Islands, has renewed from November and added one new island member.

Further details have emerged on the new disaster insurance facility which launched last week to provide parametric insurance cover for tropical cyclone and earthquake risks to a group of Pacific Islands. The parametric catastrophe facility has been set up by the World Bank and the Secretariat of the Pacific Community (SPC) Pacific Catastrophe Risk Assessment […]

A new disaster insurance facility has been officially launched today to provide parametric insurance cover for tropical cyclone (typhoon) and earthquake, including tsunami, risks to a group of Pacific Islands. The pilot project, launched today by the World Bank and the Secretariat of the Pacific Community (SPC) Pacific Catastrophe Risk Assessment and Financing Initiative (PCRAFI) […]

Some details have emerged, via the Japanese press, of a much discussed Asia disaster insurance facility which has been widely expected to emerge for over a year. The Japanese government say that they plan to work with the World Bank and Asian Development Bank to establish a disaster insurance facility for the Asia-Pacific region to […]

The agreements signed at the recent Cancun United Nations Framework Convention on Climate Change summit show that insurance and climate risk transfer were high on the agenda at the conference. Many representatives from the re/insurance and risk modelling world were present and promoting the various methods that could be used to create a re/insurance facility.