![[L-R] Pacific Tourism Oraganisation (SPTO) CEO Christopher Cocker and PCRIC CEO Aholotu Palu after signing an MOU in Suva this week. Picture: SUPPLIED/SPTO](https://www.fijitimes.com.fj/wp-content/uploads/2025/03/Picture1-7.png)
“Tourism drives the Pacific’s economy, but climate change threatens our communities and livelihoods,” said Pacific Tourism Oraganisation (SPTO) chief executive officer Christopher Cocker after signing a Memorandum of Understanding (MoU) with the Pacific Catastrophe Risk Insurance Company (PCRIC) in Suva this week.
Mr Cocker highlighted tourism’s vital role in the Pacific, with many island nations relying on it for livelihoods and revenue.
He said the growing threat of severe weather events and natural disasters presents major financial risks to the industry.
“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.
He added the approach was the kind of solution needed to strengthen the region’s tourism sector in the face of climate change.
PCRIC chief executive officer Aholotu Palu said as a disaster risk financing solution provider in the region, PCRIC was well placed to work with SPTO in areas like regional workshops and training programs, assisting developments 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,” Mr Palu said.
PCRIC’s most recent payout was to Vatuvara Foundation, its first ever NGO client, for a policy supporting clean-up and restoration efforts after Tropical Cyclone Rae swept through the Northern Lau Group early this year, inflicting damage to its valued coral reefs.
The Pacific Tourism Organisation (SPTO) is the mandated organisation representing tourism in the region with 21 member countries from across the Pacific and People’s Republic of China.
NOTE: This article was first published in the print edition of the Fiji Times dated MARCH 22, 2025.
