An especially valuable element of this project was the large component of local consultation, during which insurance concepts were presented and feedback from key stakeholders sought. Entities engaged included: Pacific Island governments (across ministries of finance, planning, foreign affairs, environment, fisheries), local and international conservation NGOs, and development partners.
Innovative financial instruments are most effective when they also incentivize hazard mitigation and adaptation activities.
Insurance can be effectively deployed to protect existing investments in conservation and marine environment stewardship.