The United Nations Capital Development Fund (UNCDF) and the UN Office for Disaster Risk Reduction (UNDRR) are holding consultations with local groups, and public and private sectors this week to explore tailored financial solutions to help communities better prepare for natural hazards, reduce loss of lives and damage to crops, livestock and other assets. One of the solutions is an anticipatory approach to disaster risk reduction where communities can receive support ahead of a forecasted hazardous event.

In Samoa, the two UN agencies will explore new financial products with a locally-owned insurer, Samoa Surety to provide communities with timely access to funds to better prepare for extreme natural hazards and protect their lives, livelihoods, and families. Consultations were held with women’s groups, the Samoa Farmers Association, and Nuanua O Le Alofa (NOLA) to identify needs, coping mechanisms and actions to be taken in preparation for a forecasted hazardous event.

A similar anticipatory approach was introduced in Fiji in 2023. The UNCDF, through the Pacific Insurance and Climate Adaptation Programme, UNDRR and Sun Insurance launched an anticipatory insurance scheme for farming groups in Fiji, following a comprehensive scoping exercise that included consultations with farming groups and relevant government bodies. The insurance solutions pays out a percentage of the total sum insured, based on forecasted information, 72-48 hours before a cyclone makes landfall.