The Pacific Climate Insurance Initiative ( MCII ) , backed by the United Nations , is collaborating with the Pacific Financial Inclusion Programme to explore the potential for expanding parametric and index based coverage in the Pacific Islands , coupled with coverage of Fiji , oceans and Tonga . The Initiative aims to create fast - moving insurance products that will reduce recovery costs and build resilience amid growing risks of climate change - related extreme weather events . The Pacific Islands have sovereign - level disaster coverage via the Pacific Catastrophe Risk Insurance Company and the Catastrophe Risk Assessment and Financing Initiative initiative .
The Munich Climate Insurance Initiative (MCII), backed by the United Nations, is partnering with the Pacific Financial Inclusion Programme to explore the potential for expanding parametric and index based insurance in the Pacific Islands, starting with studies of Fiji, Vanuatu and Tonga. The MCII aims to create fast-moving insurance products that will reduce recovery times and build resilience amid growing risks of climate change-related extreme weather events. The Pacific Islands have sovereign-level disaster coverage via the Pacific Catastrophe Risk Insurance Company and the Catastrophe Risk Assessment and Financing Initiative initiative.