Pacific Tourism Organisation and Pacific Catastrophe Risk Insurance Company Forge Partnership to Strengthen Tourism Resilience in the Pacific

The Pacific Tourism Organisation (SPTO) has signed a Memorandum of Understanding (MoU) with the Pacific Catastrophe Risk Insurance Company (PCRIC), marking the beginning of a strategic partnership aimed at enhancing disaster risk financing for the region’s tourism industry.

At the signing event, SPTO CEO Christopher Cocker emphasized tourism’s vital role in the Pacific, with many island nations relying on it for livelihoods and revenue. However, the growing threat of severe weather events and natural disasters presents major financial risks to the industry.

“Tourism drives the Pacific’s economy, but climate change threatens our communities and livelihoods. Building resilience is no longer a choice—it’s a necessity. Our collaboration with PCRIC provides an important avenue for strengthening the institutional capacity of SPTO members in disaster risk financing and exploring options for a potential future regional disaster and climate resilience insurance scheme,” Mr Cocker said.

This partnership highlights SPTO’s commitment to supporting its members in building resilience and securing the long-term sustainability of Pacific tourism.

PCRIC CEO Aholotu Palu indicated that as a specialist provider of disaster risk financing solutions to the region for almost a decade PCRIC was well placed to work with SPTO in areas such as regional workshops and training programs and assist with the development of guidelines for National Tourism Offices to support tourism operators in establishing disaster insurance programs.

“We are a disaster risk innovator, and we are proud to be able to offer our expertise in support of one of the most economically significant sectors across our region,” he said.

Highlighting PCRIC’s recent payout under a policy supporting clean-up and restoration efforts after cyclone damage to the Northern Lau Group’s valued coral reefs in Fiji, Cocker emphasized that this innovative approach was exactly the kind of solution needed to strengthen the region’s tourism sector in the face of climate change.