caribbean

While attention is focused on the damage caused by hurricane Isaac when it ploughed into the Louisiana coastline it is easy to forget that before Isaac reached the U.S. the storm caused extensive damage in the Caribbean. The worst affected island appears to have been Haiti, which Isaac struck while a strong tropical storm bringing […]

Earlier this week we wrote that the Caribbean Catastrophe Risk Insurance Facility (CCRIF), the catastrophe risk pooling facility who provide parametric based disaster insurance cover to Caribbean countries, had finalised their renewals for the 2012-2013 policy year. All 16 of their member countries renewed their hurricane and earthquake cover and now the CCRIF are actively […]

The Caribbean Catastrophe Risk Insurance Facility (CCRIF), the non-profit multi-country catastrophe risk pooling facility who provide parametric based disaster insurance cover to Caribbean countries, have announced that all 16 of their member countries have renewed their policies for the 2012-2013 year. Cover provided by the CCRIF since 2007 includes hurricane and earthquake cover, both of […]

The Inter-American Development Bank has been discussing new disaster risk financing instruments to assist countries in Latin America and the Caribbean to recover after major natural disaster or weather events. A disaster fund has been discussed and is one of the options on the table. Other instruments which have been discussed are contingent capital type […]

The Caribbean Catastrophe Risk Insurance Facility (CCRIF), the non-profit multi-country risk pooling facility who provide parametric disaster cover to Caribbean countries, will be launching its long-awaited excess rainfall product in June according to an article in Business News Americas. The development of the parametric rainfall insurance policy was delayed due to technical issues and a […]

With funding secured from the German Federal Ministry for the Environment, a new microinsurance scheme is being planned through the combined efforts of reinsurer Munich Re, the Caribbean Catastrophe Risk Insurance Facility and broker MicroEnsure. Funded with €2m for three years to help further the project, the three parties are being brought together under the […]

The Caribbean Catastrophe Risk Insurance Facility (CCRIF), a non-profit multi-country risk pooling initiative providing parametric hurricane or earthquake disaster cover to Caribbean countries, has scheduled its long-awaited parametric excess rainfall insurance product for the end of this year. Originally targeted for 2010, the product was eventually delayed due to the conclusion that the model used […]

The Micro Insurance Catastrophe Risk Organisation (MiCRO) has signed a grant agreement supporting their parametric catastrophe micro-insurance programme for Haiti with the Caribbean Development Bank (CDB). The CDB will be administering the multi-donor trust fund that supports the operations of MiCRO.

Reinsurer Swiss Re and it’s member colleagues of the Microinsurance Catastrophe Risk Organisation (MiCRO) are to develop a parametric microinsurance policy aimed at women entrepreneurs in Haiti. The scheme will offer a way to enable Haitian women struck by cholera with a rapid insurance payment for income lost by their businesses due to their illness. […]

Fonkoze, a lender of micro-loans to small businessmen and farmers in Haiti, have now paid out over $1m in damages to its 3,800 borrowers after heavy rainfall triggered the Microinsurance Catastrophe Risk Organization (MiCRO) policies that they provide along with their loans, according to Microfinance Focus.