The Pacific Insurance and Climate Adaptation Programme conducted a series of demand studies in Fiji, Vanuatu and Tonga.
In Fiji the study covered sugarcane, rice, copra, cash crops farmers in various parts of Fiji to assess the impacts of natural hazards on their incomes and their levels of financial preparedness.
Vanuatu study gives an overview of farmers, fishermen, and MSMEs affected in the agricultural and service industry sectors which are important to the economy of Vanuatu and are heavily impacted by natural hazards.
In Tonga, the study revealed the most imminent and damaging hazards to farmers and MSMEs. It also presents the need for a follow up survey due to the volcanic erruption which occurred on 15 January 2022.
These studies were conducted to inform the development of appropriate and affordable climate and disaster risk financing products like parametric insurance to provide immediate post-disaster liquidity to affected communities. The Programme has used this research to develop parametric insurance product ideas and the findings have also been shared with the local insurance partners.
The Pacific Insurance and Climate Adaptation Programme is a multi-year programme jointly implemented by UN Capital Development Fund (UNCDF), UN Development Programme (UNDP) and UN University- Institute for Environment and Human Security (UNU-EHS). "Developing Climate Disaster Risk Financing framework and Parametric Insurance in Fiji” project supported by the India-UN Development Partnership Fund is covered by the regional programme managed by UNCDF. The Programme receives financial support from the governments of New Zealand, Australia and Luxembourg. The Fiji component receives additional funding from the Government of India.