International Insurance Awareness Day is an opportune moment to reflect on the role insurance can play in helping communities adapt to climate change and other life cycle events.

Death, disability, illnesses and natural hazards can cause severe economic and emotional hardships to families and for low-income households - it can push them into poverty.

Insurance instruments, properly designed and delivered, are an effective risk mitigation tool along with savings, loans and remittances as a basket of financial products.

Insurance also offers you peace of mind in the knowledge that financial security is available should any of these tragic events occur.

However, given the low awareness, access and affordability, inclusive insurance solutions have to be tailor made to suit specific market segments and based on research and evidence.

The UN Capital Development Fund has been at the forefront of the pioneering work in ‘closing the protection gap’ in the Pacific small Island Developing States through its flagship Pacific Insurance and Climate Adaptation Programme (PICAP).

The Programme is responding to the demand for solutions in the face of the ongoing climate crisis.

On this International Insurance Awareness Day, I acknowledge and compliment the contributions of all our partners and patrons.

We aim to continue working closely with all stakeholders to ensure ‘no-one is left behind’ as we strengthen and build the financial resilience of our Pacific communities.