Solomon Islands receives $2m from PCRIC as excess rainfall triggers parametric policy

The Pacific Catastrophe Risk Insurance Company (PCRIC), a donor-funded entity established to provide Pacific Island nations with access to disaster risk insurance and related services, has paid USD 2 million to the Solomon Islands, after the government’s Excess Rainfall (XSR) prametric insurance policy was triggered by rainfall events during early August. The PCRIC formally presented…

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