BY JOHN HOUANIHAU
New Zealand is proud to be a partner in the Parametric Insurance programme, said Marni Gilbert, First Secretary at the New Zealand High Commission.
Gilbert emphasized that climate impacts are increasingly severe across the Pacific region, making parametric insurance a crucial tool for strengthening resilience and adaptation to the climate crisis.
“This programme brings together partners to develop innovative ways to build resilience against the impacts of climate change. In the Solomon Islands, communities frequently face severe weather events, cyclones, and flooding, underscoring the urgent need for sustainable solutions,” she said.
She highlighted New Zealand’s commitment to climate action in the Pacific, shaped by strong ties and a shared ambition to see the Solomon Islands thrive.
“We’re particularly encouraged by approaches where solutions are designed by the countries and communities they aim to benefit, ensuring that they are tailored to local needs and cultural contexts,” she added.
Gilbert noted New Zealand’s involvement in capacity-building programmes that enhance local expertise in disaster risk financing in the Solomon Islands.
“This parametric insurance programme represents a practical and impactful addition to the disaster risk financing toolkit. It offers more than financial relief,” she said.
“It provides a safety net that helps families recover with dignity, rebuild their homes, and resume their livelihoods. For businesses, it ensures faster recovery and operational continuity, thereby supporting broader economic stability. That’s why we actively support regional collaborations like this programme, which lays the groundwork for the adoption of parametric insurance in the Solomon Islands.”
Gilbert stressed that the initiative is more than a response to immediate needs; it fosters long-term opportunities.
“The potential impact of parametric insurance aligns with our shared aspirations. It will lead to increased financial inclusion and expand access to insurance for low-income households and marginalised groups,” she said.
She also highlighted the programme’s inclusive approach, which aims to strengthen gender equality and social inclusion.
“It empowers women and people with disabilities, who often bear the brunt of disasters, by providing financial tools that support recovery and resilience. This will strengthen the economic resilience of individual communities and the nation as a whole, helping businesses and families recover faster and contributing to sustained growth and development,” she concluded.
