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PREEN Newsletter - Issue 05 December 2011

Wednesday, 07 December 2011 09:08 administrator
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It is with great pleasure that we present to you the 5th edition of the PREEN Newsletter. We would like to thank all those who contributed articles to this issue to share information on activities in resource and environmental economics in the region.

Special thanks also go to Federica Gerber, the out-going PREEN newsletter coordinator who recently finished her term at SOPAC Division and has now returned to Europe. The PREEN network thanks her for all her efforts and dedication in preparing the Newsletter and managing the PREEN mailing list for the past two years. We wish Federica all the best for her future.

Finally, please allow me to introduce myself to you as the new Coordinator of the Newsletter for 2011 – 2013. I am Anja Grujovic, the new ODI resource economist at SOPAC. I look forward to meeting you all at some point during my stay here.
Season’s greetings to all and a happy start to 2011!

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Anja Grujovic,
ODI Resource Economist

Last Updated on Monday, 19 December 2011 07:13  

Newsflash

Pilot program to help governments respond to natural disasters

The Marshall Islands, Samoa, Solomon Islands, Tonga and Vanuatu are all part of a pilot catastrophe risk insurance programme launched on January 17, 2013 to provide their governments with immediate funding if a major (natural) disaster occurs.

Japan, the World Bank and the Secretariat of the Pacific Community (SPC) have teamed up with the 5 Pacific Island Countries to launch the Pacific Catastrophe Risk Insurance Pilot. It will test whether a risk transfer arrangement modelled on an insurance plan can help Pacific island nations deal with the immediate financial effects of disasters.

The pilot relies on state-of-the-art financial risk modelling techniques and is the first ever Pacific scheme to use parametric triggers, linking immediate post-disaster insurance payouts to specific hazard events.  This joint effort will allow Pacific island nations to access earthquake and tropical cyclone catastrophe coverage from reinsurance companies at an attractive price.