CCRIF SPC

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CCRIF grows risk pool as Guatemala buys parametric insurance

CCRIF (formerly named the Caribbean Catastrophe Risk Insurance Facility) has expanded its parametric insurance risk pool with the addition of a new member in Central American nation Guatemala.Guatemala has purchased a parametric rainfall insurance policy for the 2019/20 policy year from the CCRIF, which takes the facilities membership to 22 read the full article →

Bahamas parametric CCRIF payouts for hurricane Dorian hit $12.8m

The Government of The Bahamas has now received US $12.8 million in payouts from its parametric insurance policies with the CCRIF (formerly named the Caribbean Catastrophe Risk Insurance Facility).As we'd already reported, the CCRIF made an initial payout of almost $11 million to the Bahamas after Category 5 hurricane Dorian read the full article →

Bahamas gets $11m from CCRIF after Dorian triggers parametric insurance

CCRIF (formerly named the Caribbean Catastrophe Risk Insurance Facility) is set to payout almost $11 million to the Bahamas after hurricane Dorian triggered its parametric tropical cyclone insurance policy.In a clear demonstration of the efficacy of parametric insurance and reinsurance protection, the CCRIF has already paid 50% of the $11 read the full article →

CCRIF tools offer real-time parametric trigger data to members

The CCRIF SPC (formerly known as the Caribbean Catastrophe Risk Insurance Facility) has launched a new set of web-based tools that will provide its members with greater visibility of the real-time data used as inputs to their parametric catastrophe insurance policy triggers.The CCRIF SPC has been steadily innovating to increase read the full article →

CCRIF & World Bank issue first parametric fisheries insurance

The CCRIF SPC (formerly known as the Caribbean Catastrophe Risk Insurance Facility) along with the World Bank have announced the issuance of the first two parametric insurance policies covering the fisheries industry.The new Caribbean Oceans and Aquaculture Sustainability FaciliTy (COAST) fisheries parametric insurance policy has been issued to two of read the full article →

CCRIF risk pool grows 14%, approaches $1bn of parametric limit

The CCRIF SPC (formerly known as the Caribbean Catastrophe Risk Insurance Facility) has grown its risk pool by over 14% in a year, as its members renewed and extended their parametric disaster insurance coverage under the facility.The CCRIF's parametric risk pool is now nearing $1 billion of coverage limit in read the full article →

CCRIF enlarges parametric risk pool as members renew, expand coverage

All Caribbean members of the CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) have elected to renew their parametric disaster insurance coverage under the Facility, with a number also expanding their protection, resulting in further growth of the CCRIF risk pool.At the June 1st renewals, all Caribbean government participants read the full article →

CCRIF to expand parametric insurance cover to utilities risk & drought

CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) is seeking a further expansion of its range of parametric insurance products for the region, with utilities such as energy firms and drought coverage both potential avenues it is exploring.Speaking at a conference in the Caribbean last week, CCRIF Chief Executive read the full article →

CCRIF signs MOU on parametric Caribbean fisheries & aquaculture insurance

CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) has signed a Memorandum of Understanding (MOU) with the Caribbean Regional Fisheries Mechanism (CRFM) to finalise its fisheries and aquaculture parametric insurance product for the region.CCRIF has been working on developing a parametric insurance product to support the fisheries sector in read the full article →

Panama joins CCRIF, buys parametric rainfall cover

The CCRIF SPC (formerly named the Caribbean Catastrophe Risk Insurance Facility) has expanded its parametric risk pool to include Panama, as the Central American country joins the provider of parametric sovereign disaster risk transfer products and signs up for excess rainfall protection.The CCRIF is a multi-country risk pool, providing parametric read the full article →