Earlier this year the contract for management of the World Bank-sponsored Caribbean Catastrophe Risk Insurance Facility (CCRIF) came up for renewal and was put out to tender. As a result of this process Caribbean Risk Managers Ltd., a subsidiary of the CGM Gallagher group has been reappointed as managers of the facility.
The new contract began in August and runs for three years. As managers of the facility Caribbean Risk Managers are in charge of the day to day operations which include risk management, catastrophe modelling, liaison with regional governments, coordination of reinsurance and PR and local outreach.
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