The Pacific Catastrophe Risk Assessment and Financing Initiative (PCRAFI) aims to provide the Pacific Island Countries (PICs) with disaster risk modeling and assessment tools. It also aims to engage in a dialogue with the PICs on integrated financial solutions for the reduction of their financial vulnerability to natural disasters and to climate change. The initiative is part of the broader agenda on disaster risk management and climate change adaptation in the Pacific region. The Pacific Disaster Risk Assessment project provides 15 countries with disaster risk assessment tools to help them better understand, model, and assess their exposure to natural disasters. It builds on close collaborations between the Secretariat of the Pacific Community through its Applied Geoscience & Technology Division (SPC/SOPAC), WB and ADB, with technical inputs from GNS Science, Geoscience Australia, and AIR Worldwide.
PCRAFI Regional Risk Pool
Type of instrument: Insurance