The Pacific Insurance and Climate Adaptation Programme (PICAP) aims to improve the financial preparedness and resilience of Pacific Islanders towards climate change and natural hazards through the development and implementation of market-based meso and microinsurance schemes. The Programme is structured as a regional multi-year Programme (2021-2025) and receives funding from the Governments of Australia and New Zealand, the India-UN Development Partnership Fund and Luxembourg (through the Drua Incubator).

The inception phase (2021-2022) saw innovative and affordable parametric insurance products deployed in Fiji, Tonga and Vanuatu covering smallholder farmers, fishers, market vendors and small businesses. A phased expansion to other countries including Samoa, Solomon Islands, Kiribati, Timor-Leste, and PNG will commence from 2023 onwards.

This publication highlights the achievements, strong leadership, partnerships, coordinated team performance and robust implementations made in the programmes inception phase.