This morning, Mr ‘Aholotu Palu, the CEO of the Pacific Catastrophe Risk Insurance Company (PCRIC) presented Prime Minister Lord Fakafanua with a cheque valued at TOP 42,500, following a recent drought event in the Niua Islands.
Tonga has taken a significant step as the first country to secure drought insurance coverage through PCRIC, reflecting the growing need for protection against a wider range of climate risks. The February drought experienced in the Niua Islands triggered this payout, with the cheque representing 50% of the drought insurance policy based on the duration of the event.
The total value of the drought insurance policy is USD 115,500, with a trigger threshold of 16% reached on this occasion, resulting in the partial payout.
This milestone highlights the critical role of disaster risk insurance in enabling timely financial support, ensuring that vulnerable communities can respond and recover more quickly in the face of increasingly frequent and diverse natural hazards.
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Naʻe foaki ‘i he pongipongi ‘o e ‘aho ni ai ʻe he Kautaha Malu’i ‘a e Pasifiki ko e Pacific Catastrophe Risk Insurance Company (PCRIC) ki he ‘Eiki Palemia, Lord Fakafanua ‘a e sieke fe’unga mo e TOP 42,500, hili ‘a e laʻalaʻa ʻi he ‘Otu Motu Niua.
Ko e sitepu mahu’inga eni ki Tonga ʻi heʻene hoko ko e fuofua fonua ke maʻu ‘a e maluʻi ko eni ki he laʻalaʻa ʻo fakafou ʻi he PCRIC, ʻo fakahaaʻi ai ʻa e fakautuutu ʻa e fie maʻu ke maluʻi mei ha ngaahi fakatuʻutamaki lahi ‘e hoko fakatupu mei he ʻea. Naʻe hoko ‘a e laʻalaʻa ko eni ‘i Fepueli ʻi he ʻOtu Motu Niua na’e tupu ai ‘a e fakahoko ‘o e totongi ko ʻeni, ʻa ia ko e peseti ‘e 50 ‘o e sieke ko e maluʻi laʻalaʻaa ʻo makatuʻunga ʻi he loloa ʻo e la’ala’aa.
Ko e mahuʻinga fakakatoa ʻo e maluʻi laʻalaʻaa ko e USD 115,500, pea ko e peseti pe ‘e 16 ‘e lava totongi mei he malu’i ko eni fakatatau ki he tu’unga ne a’u ki ai e fakatamaki, ʻo tupu ai ʻa e totongi fakakonga.
ʻOku fakamamafaʻi ʻe he makamaile ko ʻeni ʻa e fatongia mahuʻinga ʻo e maluʻi fakatuʻutamaki ki he fakatamaki, ʻi hono fakafaingamalieʻi ʻo e tokoni fakapaʻanga ke fakahoko taimi totonu, fakapapauʻi ʻe lava ʻa e ngaahi kolo laveangofua ʻo tali mo fakaakeake vave ange ʻi he fehangahangai mo e ngaahi fakatuʻutamaki fakanatula ʻoku toutou hoko mo to ‘i ha taimi kehekehe.