Extreme weather events significantly impact farming and fishing-dependent communities in Pacific Island countries, with Fiji being no exception. To address this critical issue, the Pacific Insurance and Climate Adaptation Programme (PICAP) initiated a comprehensive study to gain valuable insights into the challenges faced by farmers and fishers in Fiji. This evidence note presents the findings of field research, which adopted a mix-method approach to assess the climate risks encountered by these communities, the adaptation measures they have implemented, and their specific needs and preferences for disaster risk financing solutions.

In the face of mounting challenges posed by climate and non-climate hazards, Climate and Disaster Risk Finance and Insurance (CDRFI) has emerged as a vital component of Comprehensive Disaster Risk Management. By offering a range of financial tools and strategies, CDRFI plays a crucial role in strengthening the resilience of individuals and communities. The interest in CDRFI within the realm of climate change adaptation continues to grow, including for innovative financing arrangements to address loss and damage associated with climate change. It is helpful to have a clear understanding of the terminology used by industry experts and practitioners, including stakeholders from the public and from the private sector. This understanding enables everyone to be on the same page and to make informed decisions. To facilitate this understanding, the Solutions and Practice Partnerships team at MCII has curated the following list of concise and easily comprehensible definitions for key concepts commonly used in the CDRFI community. Please visit (the link below) to access and download the publication.

The Pacific Insurance and Climate Adaptation Programme (PICAP) is the first project of its kind in the Pacific region. It aims to improve the financial preparedness and resilience of Pacific communities against climate change and natural hazards through the development and implementation of innovative and inclusive climate risk insurance products. In addition to the major achievement of developing and launching the first parametric microinsurance products for extreme weather events in Fiji, Vanuatu and Tonga, the programme managed to co-create evidence-based solutions and digital technologies with robust private and public sector engagement and collaborative partnerships with cooperatives and associations during its inception phase (2021-2022); PICAP has thereby laid a solid foundation for regional expansion. This publication reflects on and captures the key lessons learned from the programme team while developing and implementing parametric microinsurance solutions, specifically in a Small Island Developing States (SIDS) context.