The South Pacific is in the midst of the annual tropical cyclone season, with Vanuatu facing down TC Dovi imminently and a predicted system developing towards Fiji in the next few days.

Extreme weather events affect lives and livelihoods and have the potential to reverse hard-won development gains.

To address these challenges, the United Nations Capital Development Fund (UNCDF)-led Pacific Insurance and Climate Adaptation Programme, with private sector insurers and other aggregator partners, has developed the region’s first parametric microinsurance product, aimed at providing immediate post-disaster cash liquidity.

To raise awareness on insurance, the Programme has developed a series of educational videos. This one on parametric insurance and its benefits is one of them. The Pacific Insurance and Climate Adaptation Programme is supported by the New Zealand Ministry of Foreign Affairs & Trade, Australian Department of Foreign Affairs and Trade and the Luxembourg's Government Climate and Energy Fund. The Fiji component on “Developing Climate Disaster Risk Financing Framework and Parametric Insurance” is additionally funded by the India-UN Development Partnership fund administered by the United Nations Office for South-South Cooperation (UNOSSC).

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