The World Bank and the Inter-American Development Bank (IDB) are expected in Jamaica today to begin talks with the Caribbean Catastrophe Risk Insurance Facility (CCRIF) and Jamaican Government on the feasibility launching insurance products for the agricultural sectors of the countries that it provides insurance to for events related to tropical storms and hurricanes.
The discussions are expected to surround the possibility of providing a parametric based insurance facility to the agri industries of the involved islands.
More details on the Jamaica Gleaner website.
Perhaps this will go some way to allaying the fears of locals who feel the current fund does not do enough to protect them from rain and flood damage caused by less severe tropical storms and hurricanes (as discussed here).
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