Annual Disaster Risk Financing and Insurance Workshop held in Apia, Samoa

Sep 20

Representatives from Finance Ministries across the Pacific Islands came together in Apia, Samoa to attend the Annual Disaster Risk Finance and Insurance Workshop hosted by the World Bank and Pacific Islands Forum Secretariat. The workshop is an annual opportunity for participants to exchange ideas and receive information on the latest development in Disaster Risk Finance in the region. This year, participants received an update on the status of the Pacific Catastrophe Risk Insurance Company (PCRIC) from the interim Director, Mr Garth Henderson. Information about the development of new DRF products including rainfall insurance products, Mutual Insurance Funds and ADB's Regional Contingent Credit Savings Facility. New Analytical tools to support countries in the selection of insurance coverage were shared along with information on proposed capacity building activities. The workshop culminated with a field trip to visit resilient recovery initiatives implemented by the Government of Samoa following the 2009 Earthquake and Tsunami and Tropical Cyclone Evan in 2013. (Author: Kirstie Meheux)