CCRIF SPC

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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 →

New funding to enhance CCRIF parametric risk transfer affordability & utility

New funding from Germany through KfW is set to enhance the affordability and utility of parametric sovereign disaster risk transfer products offered through the CCRIF SPC (formerly named the Caribbean Catastrophe Risk Insurance Facility) to Caribbean and Central American countries.Germany has delivered the largest single round of funding from one read the full article →

Trinidad & Tobago gets $2.5m parametric CCRIF payout after rains

CCRIF SPC (formerly named the Caribbean Catastrophe Risk Insurance Facility) has made a parametric insurance payout of $2.5 million to Trinidad and Tobago after its excess rainfall policy was triggered by heavy rainfall in October.The Government of Trinidad & Tobago has already received a payout of US $2,534,550 (approximately TT read the full article →

Barbados gets $5.8m CCRIF payout, Trinidad & Tobago seeks one

The passage of tropical storm Kirk close to Barbados in October triggered the Caribbean nations parametric rainfall insurance policy under the CCRIF SPC, resulting in a $5.8 million payout.The CCRIF SPC (formerly called the Caribbean Catastrophe Risk Insurance Facility) has made a payout of $5.8 million to Barbados under its read the full article →

Haiti’s parametric CCRIF deductible cover activated by earthquake

The Caribbean island nation of Haiti is to benefit from a small payout from the CCRIF SPC (formerly called the Caribbean Catastrophe Risk Insurance Facility), after a recent magnitude 5.9 earthquake on October 6th activated its aggregate deductible coverage under the facility.The M 5.9 earthquake struck Haiti resulting in the read the full article →