The Pacific Catastrophe Risk Insurance Company (PCRIC) has appointed Tonga’s former Finance Minister Tiofilusi Tiueti to spearhead the development of a national contingency plan designed to enhance Tonga’s financial preparedness for natural disasters. Mr. Tiueti is well-equipped for this role, drawing on his extensive background in public administration and financial governance, including his previous leadership in reforming Tonga’s public financial management systems.
CEO of PCRIC, Aholotu Palu, expressed confidence in Mr. Tiueti’s capabilities, highlighting their prior collaboration when he served as Finance Minister. Palu stated that Tiueti’s insights will be crucial in creating an effective plan that aligns with both local priorities and global funding standards.
This initiative is being funded by the Global Shield Solutions Platform (GSSP) and managed by the Frankfurt School, aiming to improve disaster response by ensuring that insurance payouts are delivered swiftly and effectively to those in most need during emergencies.
Dr. Annette Detken, the head of GSSP, underscored the significance of Tiueti’s appointment, noting it exemplifies a commitment to disaster preparedness and ensuring timely support reaches vulnerable populations.
The contingency plan will be tailored specifically for Tonga and will involve wide consultation with stakeholders to establish clear funding pathways and operational triggers for timely disaster-related funding disbursements. Notably, similar contingency planning efforts are anticipated to be launched in other Pacific Island nations including Samoa, the Cook Islands, Fiji, Niue, and Vanuatu, in line with PCRIC’s broader regional support strategy.
This initiative not only highlights Tonga’s proactive steps towards disaster readiness but also serves as an encouraging model for other vulnerable island nations, showcasing the strategic investment in financial resilience to protect communities from the impacts of climate change and natural disasters.
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