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IADB looking at contingent disaster financing for Latin America and Caribbean

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 read the full article →

CCRIF excess rainfall product due to launch in June

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 read the full article →

Munich Re, CCRIF, MicroEnsure team up on microinsurance for the Caribbean

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 read the full article →

CCRIF excess rainfall product scheduled for end of year

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 read the full article →

MiCRO signs grant agreement with Caribbean Development Bank, set to expand

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. MiCRO provides parametric insurance products which aim to protect microfinance read the full article →

Swiss Re and MiCRO developing parametric microinsurance for cholera in Haiti

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 read the full article →

Fonkoze pays out over $1m in MiCRO natural disaster insurance

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. It was the first time read the full article →

Caribbean Catastrophe Risk Insurance Facility makes Real-Time Forecasting System available to all members

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. As the 2011 Atlantic hurricane season gets underway the CCRIF are providing assistance to read the full article →

AIR Worldwide expands tropical cyclone models to include Central America

Risk modeller AIR Worldwide have announced the release of a new tropical cyclone model for Central America. The new model covers Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and Panama offering modelling technology for the effects of both wind and precipitation induced flooding which are the two main causes read the full article →

Microinsurance Catastrophe Risk Organisation (MiCRO) set to expand

Business News Americas report here that a Swiss Re representative has declared that they will seek to replicate the Microinsurance Catastrophe Risk Organisation (MiCRO) to provide cover across several Caribbean and Latin American countries in the coming months. MiCRO was launched earlier this year by founding partners Swiss Re, Guy Carpenter read the full article →