Caribbean Catastrophe Risk Insurance Facility news

The Caribbean Catastrophe Risk Insurance Facility (CCRIF), a non-profit multi-country risk pooling facility providing parametric hurricane and earthquake cover to Caribbean countries, has announced that it is making its Real-Time Forecasting System available to all of its members.

The Caribbean Catastrophe Risk Insurance Facility (CCRIF), a non-profit multi-country risk pooling facility who provide parametric hurricane and earthquake cover to Caribbean countries, has had to delay the launch of its long awaited excess rainfall insurance product.

The Caribbean Catastrophe Risk Insurance Facility (CCRIF), a non-profit multi country risk pool who provide parametric hurricane and earthquake cover to Caribbean countries, has now entered into its fifth policy year after all 16 member countries renewed in June.

A magnitude 4.7 earthquake struck just off the southwest coast of Jamaica on the 16th May. The event was felt widely across western Jamaica and it was the latest in a series of tremors to affect the Caribbean island. No extensive damage or deaths were recorded although the ground was reported to have shaken for […]

The Caribbean Catastrophe Risk Insurance Facility (CCRIF), the non-profit multi-country risk pool for the Caribbean, has since its launch in 2007 paid out $32,179,470 to its members after disasters struck. The facility counts sixteen Caribbean countries as members and seven of those members have received a payout in the four years the facility has operated […]

U.S. weather forecaster Accuweather, have issued their forecast for the 2011 U.S. Atlantic tropical storm and hurricane season. Like previous forecast we’ve published (such as Klotzbach and Gray’s or Tropical Storm Risks), Accuweather predict an active season with many storms. So a similar season to 2010? Possibly, but all forecasters are suggesting to expect more […]

The Caribbean Catastrophe Risk Insurance Facility (CCRIF) have announced a change of their placing reinsurance broker for this year. Guy Carpenter will be taking over as the new reinsurance broker for the facility and replaces Aon Benfield who provided the service to the facility last year.

The Inter-American Development Bank (IDB) and reinsurer Swiss Re are working on a catastrophe insurance facility for Caribbean country the Dominican Republic. The project to establish this cover has been ongoing for a year or more as the IDB worked with various third parties to establish the best way to secure natural disaster cover for […]

There has always been a need for the public and private sectors to come together to provide effective disaster and catastrophe risk transfer solutions. The private sector alone, in the form of insurance and reinsurance, cannot provide the capacity to cover all of the risk or effectively help the poorest of people especially in developing […]

Our latest interview is with Simon Young, CEO of Caribbean Risk Managers Ltd. (CaribRM), a risk management consultancy firm who provide services such as hazard and risk modelling, business analytics, GIS-based data management systems, and risk surveying and control solutions. CaribRM are also facility supervisors for the Caribbean Catastrophe Risk Insurance Facility. As such we […]