Caribbean Catastrophe Risk Insurance Facility news

The Government of Jamaica has decided to extend the coverage it receives from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) to include cover for flooding and periods of unusually heavy rainfall. The Minister of Finance told the press that he expected the extension to the facility to come into effect by the end of January […]

Several Caribbean island states have received payouts from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) for damages caused by the passage of tropical storm / hurricane Tomas earlier this month.

The Caribbean Catastrophe Risk Insurance Facility has announced that it expects to make payments to Barbados, Saint Lucia and St Vincent and the Grenadines under the disaster pooling facilities insurance scheme.

Once again the Caribbean Catastrophe Risk Insurance Facility (CCRIF) has hit the headlines because a tropical storm has failed to trigger a payout from the disaster facility despite high levels of destruction and losses. Tropical storm Nicole caused heavy damage on Jamaica due to heavy rainfall but as it didn’t reach hurricane status Jamaica won’t […]

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.

Demonstrating exactly why facilities like the Caribbean Catastrophe Risk Insurance Facility (CCRIF) are good for developing countries, the CCRIF has made good on its obligation to pay Anguilla speedily for the damage caused to it by hurricane Earl.

Hurricane Earl passed close enough to the Caribbean island state of Anguilla yesterday to trigger a payment under the Caribbean Catastrophe Risk Insurance Facility (CCRIF). Early reports suggest that Earl, a major Category 4 hurricane, blew roofs off buildings in Anguilla, downed power lines and caused beach erosion and flooding from the storm surge and […]

The Guyanese government have issued a press release calling on the Caribbean Catastrophe Risk Insurance Facility (CCRIF) to get its much discussed rainfall insurance product ready by year end. The CCRIF teamed up with the Caribbean Institute of Meteorology and Hydrology (CIMH) to create and launch a rainfall model for the Caribbean which can be […]

A study into catastrophe losses in the Caribbean and their potential to increase due to the changing climate has been released by the Caribbean Catastrophe Risk Insurance Facility (CCRIF). The study has been undertaken by the CCRIF, Caribbean Risk Managers and regional partners, the Caribbean Community Climate Change Centre (5Cs), the UN Economic Commission for […]

The Caribbean Catastrophe Risk Insurance Facility (CCRIF) is doing a great job of providing insurance coverage for natural disasters to Caribbean nations. Well received by most, it’s now being seen as a potential model for a similar scheme to protect Pacific islanders against disasters which could destroy their property and businesses.