This guide outlines issues facing Pacific countries as they struggle to build resilient infrastructure and shows how proactive steps to mitigate risk including early engagement with insurers could drive the investment they need.
- DOI
- http://dx.doi.org/10.22617/SPR240394-2
- Dimensions
- 8.5x11
- ISBN
- 978-92-9270-849-8(print) 978-92-9270-850-4(PDF) 978-92-9270-851-1(ebook)
- Pages
- 66
- Published in
- Philippines
- SKU
- SPR240394-2
- pages
- 64
Table of Contents
- Contents 5
- Tables, Figures, and Boxes 6
- Abbreviations 7
- Executive Summary 8
- 1 Introduction 13
- 2 Infrastructure Insurance Landscape in the Pacific 15
- Region-Specific Risks 15
- Insurance Industry in the Pacific 16
- Infrastructure Insurance Market in the Pacific 16
- 3 Insurable Infrastructure Risks 21
- Risks Throughout the Life Cycle of Infrastructure Projects 22
- Sector-Specific Risks 24
- 4 Insurance Products for Infrastructure 25
- Best Practices for Contractors to Obtain Insurance 25
- Insurance Requirements for Infrastructure 27
- Insurance Products Available by Country 28
- 5 Value of Implementing Risk Management and Reduction Measures 31
- 6 Challenges of Obtaining Insurance Services 34
- Overview of Challenges of Obtaining Insurance 34
- Risk Management Issues from the Insurers’ Perspective 35
- Constraints in Insurance Requirements During Procurement 36
- 7 Recommendations for Improving Access to Insurance During Procurement 38
- Risk Management Good Practices 38
- Risk Management Advice for Development Partners 39
- Sharing Information and Timing 41
- Procurement Strategies 43
- Recommendations for Government Agencies 45
- 8 Case for a Pacific Resilient Infrastructure Finance and Insurance Facility 46
- Role of a Potential Regional Facility 46
- Options for a Facility Platform 48
- 9 Conclusion 52
- Appendixes 54
- 1 Active Insurance Companies by Country and Their Relevant Product Offerings 54
- 2 Matching Identified Project Life Cycle Risks with Insurance Products 57
- 3 Information to Be Provided to an Insurer at an Early Stage for Contractors’ All Risk Policy 60
- 4 Contractors Operating in the Pacific by Project Value 61
- People Interviewed, October–December 2023 62
- Glossary 63
