The plan outlines a shift toward wider regional capability, aiming to strengthen long-term resilience and drive greater impact for Pacific governments and communities.
Federal and state-backed projects include cyclone shelters, bushfire risk reduction, and upgraded early warning systems across all states and territories.
The initiative seeks to build disaster-risk financing into development planning, enabling quicker fiscal response and reducing recovery costs for governments.
The fund will invest in small to medium-sized commercial infrastructure projects in emerging markets and developing economies and counts the International Finance Corporation, AXA, Generali, Swiss Re,...
The talks also cover potential funding mechanisms for the scheme, including the use of disaster relief funds or small deductions on utility bills, according to a government official cited by Reuters.
The regulator is sharpening its focus on affordability and long-term resilience as insurers face mounting cost pressures from natural disasters, inflation, and limited reinsurance capacity.
