Pcric Pcrif Secretariat Advisor 18Mths Fy20 21Call For Expressions Of Interest Eoi To Tender For International Public Law Governance Services To The Pacific Catastrophe Risk Insurance Company The Pacific Catastrophe Risk Insurance Company Now Invites Eligible Individuals To Indicate Their Interest In Providing The Services Interested Consultants Should Provide Information Demonstrating That They Have The Required Qualifications And Relevant Experience To Perform The Services The Pacific Catastrophe Risk Assessment And Financing Initiative Pcrafi Insurance Program Provides Climate And Disaster Risk Insurance To Member Countries In The Pacific Region Its Primary Aim Is To Provide A Quick Injection Of Cash To Help Participating Governments Deliver Relief Efforts As Quickly As Possible After A Disaster The Pcrafi Insurance Program Currently Provides Parametric Earthquake And Tropical Cyclone Insurance Solutions That Increase The Financial Response Capacity Of Pacific Island Countries Helping Them To Meet Post Disaster Funding Needs Without Compromising Their Fiscal Balances And Development The Insurance Provides Cash Payouts To Insured Governments Within 10 Working Days After A Qualifying Disaster Event Following A Successful Pilot Of The Pcrafi Insurance Program The Pcrafi Facility Was Established By Legal Act In The Cook Islands On June 10 2016 The Pcrif Act To Provide The Insurance Program To Pacific Island Countries Pics Going Forward The Pcrafi Facility Was Established As The Pacific Catastrophe Risk Insurance Foundation Pcrif That Own A Group Captive Insurer The Pacific Catastrophe Risk Insurance Company Pcric As The Pcric Is Being Operationalized A Series Of Initial Arrangements Have Been Made To Enable The Commencement Of Key Operations Including The Appointment Of A Board Of Directors And Key Service Provider Contracts The Pcrif Council Of Members Is Comprised Of Representatives Of Donor Countries And Pacific Island Countries Supporting The Disaster Finance Programs Initiating With The Pcrafi Insurance Program Each Member State Participant In The Pcrif Is Subject To A Separate National Legal System And To The National Legal Requirements Of The Cook Islands Under The Pcrif Act The Pcric Board Is Subject To The National Legal Requirements Of The Pcrif Act The Pcrif And Pcric Entities Have Appointed Outside Legal Counsel In The Cook Islands To Advise On Cook Islands Legal And Regulatory Matters At The Council Of Members Com Meeting In October 2019 The Com Resolved To Appoint Pcric To Provide The Pcrif Secretariat Services To The Com These Terms Of Reference Tor Describe Technical Assistance Support For The Pcrif As A Sovereign Multilateral Cooperation Mechanism 1 To Support The Governance Functions Of The Com And The Interactions Between The Com Member States While Respecting The National Legal Requirements Applying To Each Such Member State And 2 To Coordinate The Governance Interaction Between The Pcric Board And The Com As A Sovereign Multilateral Cooperation Mechanism
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