CCRIF SPC

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CCRIF makes $2.4m parametric rainfall payout to Trinidad & Tobago

The CCRIF SPC (formerly known as the Caribbean Catastrophic Risk Insurance Facility), has made a US $2.4 million payout to Trinidad & Tobago after the Caribbean nations parametric excess rainfall insurance policy was triggered recently. Including this latest payout, the CCRIF's parametric disaster insurance policies have now paid out 54 times, read the full article →

Haiti to get $40m as earthquake triggers CCRIF parametric insurance

The Government of Haiti will receive a payout of roughly US $40 million after its CCRIF parametric insurance policy was triggered by the devastating earthquake that struck the country on August 14th, with $15 million to be delivered within 7 days of the event. As we explained yesterday, we had been read the full article →

Haiti quake insured loss ~$250m says KCC, some parametric exposure

The devastating earthquake that struck the Caribbean nation of Haiti on August 14th is only expected to drive insurance industry losses of around US $250 million, while we're hearing some parametric contracts are exposed. Catastrophe risk modeller Karen Clark & Company (KCC) has said that economic losses from the magnitude 7.2 read the full article →

CCRIF confirms parametric insurance payouts for hurricane Elsa

The CCRIF SPC (formerly known as the Caribbean Catastrophic Risk Insurance Facility), has confirmed that it made a number of payouts after the passage of hurricane Elsa, as member parametric insurance policies and deductible covers were triggered, its first payouts of the 2021 hurricane season. We explained back in early July read the full article →

St Lucia says hurricane Elsa may trigger CCRIF deductible payout

As hurricane Elsa moved across the eastern Caribbean one of the island nations it came close to was St Lucia, which it's reported has experienced wind gusts to 79 mph and sustained 46 mph tropical storm force winds. Property damage has been reported from St Lucia, as unfortunately has one death. read the full article →

CCRIF members renew over $1bn of parametric coverage

The CCRIF SPC (formerly known as the Caribbean Catastrophic Risk Insurance Facility) has said that at the renewals of its clients policies in advance of the 2021 Atlantic hurricane season, more than $1 billion of risk has been ceded to the facility through parametric risk transfer arrangements. It's the second year read the full article →

CCRIF targets further expansion of scope and risk transfer product range

The CCRIF SPC (formerly known as the Caribbean Catastrophe Risk Insurance Facility), a parametric focused risk pooling and transfer facility for the Caribbean and Central America, is targeting further expansion in terms of its scope, as well as in terms of the range of risk transfer products it offers and read the full article →

Jamaica: World Bank cat bond still underway. Gets CCRIF rainfall payout for Zeta & Eta

Jamaica continues to work with the World Bank on a first catastrophe bond for the country the Finance Ministry has said and reflecting the importance of disaster risk financing, in recent weeks it has received a roughly $3.5 million payout under its parametric CCRIF insurance coverage. The payout comes after the read the full article →

Nicaragua gets parametric insurance payout for hurricane Iota from CCRIF

Having already received a $10.7 million payout under its parametric tropical cyclone policy after hurricane Eta from the CCRIF, Nicaragua has now also received a payout for a second Category 4 storm, hurricane Iota. The CCRIF SPC (formerly known as the Caribbean Catastrophe Risk Insurance Facility) provides a range of parametric read the full article →

Nicaragua to get $10.7m after hurricane Eta triggers parametric CCRIF policy

The Government of Nicaragua will receive a US $10.7 million payout after recent major hurricane Eta triggered its parametric tropical cyclone insurance policy with the CCRIF. The CCRIF SPC (formerly known as the Caribbean Catastrophe Risk Insurance Facility) provides a range of parametric catastrophe insurance products to the Caribbean and Central read the full article →