A comprehensive approach through insurance programmes to protecting small-scale fisheries and fisherfolk from the increasing risks that result from climate change. 

The World Risk Report 2020 identifies the Pacific as a hotspot for climate change and disaster risk. Vanuatu, Tonga, Solomon Islands, Papua New Guinea, Fiji and Kiribati are listed in the 20 countries most at risk and vulnerable to disasters. Pacific Small Island Developing States (PSIDS) have limited capacity to effectively manage risks and overcome significant economic losses after a disaster. Up to 60-80 per cent of Pacific islanders rely on agriculture and fisheries for their income and food security. Communities dependant on farming and fishing are often the most affected by extreme weather events such as storms or heavy rainfall. Yet farmers and fishers have little or no access to disaster risk financing options to deal with the effects of climate-related disasters.

There are limited ex-ante financial instruments and the ex-poste financial instruments deployed are usually reallocated from government budgets, external and internal borrowing or donor assistance and international humanitarian aid.