Apia, 13 August 2025 – Samoa has received US$285,000 from the Pacific Catastrophe Risk Insurance Company (PCRIC) after a payout was triggered by tsunami waves exceeding one metre, following the 8.8 magnitude earthquake in Kamchatka, Russia on 30 July.
The funds will support the Government’s response to families and communities impacted by the tsunami. The payment forms part of Samoa’s disaster insurance policy with PCRIC, which is funded in part by donor partners who assist with the country’s annual premium.
Finance Minister Lautimuia Afoa Uelese Vaai said the payout is an example of how disaster risk financing tools can make a tangible difference in the Pacific, enabling governments to respond faster and restore critical services in the aftermath of natural disasters.
Lautimuia said Samoa’s long-standing relationship with PCRIC has been strengthened through policy updates agreed in 2024, which give members greater flexibility to access funds, expand the range of hazards covered, and secure additional donor resources to increase the maximum payout available.
“Samoa is a strong advocate for PCRIC’s work,” Lautimuia said. “We are greatly appreciative of this partnership, which allows us to act quickly when our people need help the most.”
The Minister encouraged other Pacific nations yet to join PCRIC to consider doing so, saying the growing risks brought by climate change demand proactive financial preparedness.
PCRIC, based in the Pacific, operates a risk pooling mechanism that allows member countries to share the cost of disaster protection while enabling swift payouts after qualifying events. Lautimuia said the company’s responsiveness, combined with its focus on regional needs, has proven its value as both a financial safeguard and a trusted partner in resilience and recovery.
Samoa reaffirmed its commitment to working with PCRIC to strengthen regional disaster preparedness, response, and recovery efforts.
This article is based on remarks delivered by the Minister of Finance, Hon. Lautimuia Afoa Uelese Vaai, at the official presentation of the disaster insurance payout from the Pacific Catastrophe Risk Insurance Company (PCRIC) to the Government of Samoa on 13 August 2025 in Apia.
