Riya Mala 
PCRIC Chief Executive Aholotu Palu [Photo: Fiji Government/Facebook]
The Pacific Catastrophe Risk Insurance Company aims to address rising disaster costs and fill gaps in access and affordability across the region.
Chief Executive Aholotu Palu says the new office in Fiji will provide financing and technical support to help countries build resilience and adapt to climate change.
He adds that the initiative will support governments in responding to disasters, promote sustainable development, and better protect vulnerable communities from climate-related risks.
Palu says that while pre-arranged safeguards remain central to PCRIC’s mandate, the organisation is increasingly focusing on education and capacity building to strengthen local expertise in disaster risk finance.
“We have learned that the region still requires deeper technical knowledge and skills in this area. To address this, PCRIC will launch its scholarship programme in 2026. Applications will be open, offering students from any Pacific Island country the opportunity to pursue degree qualifications in disaster risk finance through the University of the South Pacific.”
He adds that they are improving the region’s financial system so governments and communities can access funds more easily.
Prime Minister Sitiveni Rabuka welcomed the PCRIC initiative, saying risk insurance is vital for the country.
“And the establishment of this catastrophe risk insurance company is a step in the right direction, which Fiji is happy to support.”
Rabuka adds that they will continue to work with partners like PCRIC to address Pacific priorities and strengthen the region’s global climate leadership.
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