CCRIF SPC

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CCRIF makes $7.45m payout to Haiti for hurricane Laura

Hurricane Laura's passage has triggered parametric insurance coverage for Haiti, with the country receiving $7.45 million from the CCRIF SPC (formerly known as the Caribbean Catastrophe Risk Insurance Facility). Haiti received $7.2 million as the hurricane's rains triggered its parametric excess rainfall policy that it has in place with the CCRIF. In read the full article →

CDB & Canada to fund CCRIF premiums for nine Caribbean countries

The Caribbean Development Bank (CDB) and Government of Canada have partnered to fund the CCRIF parametric insurance premiums of nine Caribbean countries, enabling them to continue with coverage despite the fiscal impacts from the Covid-19 pandemic. Canada is financing a new CAD$20 million fund to support the premium needs of the read the full article →

CCRIF renewals see members split policies to calibrate parametric coverage

At this year's renewal of member country policies for the CCRIF SPC (formerly known as the Caribbean Catastrophic Risk Insurance Facility), some have elected to split coverage across multiple policies, enabling them to better calibrate or target their parametric disaster insurance protection. At the renewals this year, members of the CCRIF read the full article →

Belize takes parametric rainfall payout from CCRIF after Amanda/Cristobal

The central American nation of Belize has benefited from a payout of its parametric excess rainfall policy, provided by the CCRIF SPC, after rains from tropical storms Amanda and Cristobal triggered its coverage. The CCRIF SPC (formerly known as the Caribbean Catastrophic Risk Insurance Facility) has already made one payout to read the full article →

Guatemala gets CCRIF rainfall payout for tropical storms Amanda/Cristobal

The Government of Guatemala has benefited from its parametric disaster insurance coverage under the CCRIF SPC (formerly known as the Caribbean Catastrophic Risk Insurance Facility) as the countries parametric excess rainfall insurance was triggered by tropical storms Amanda and Cristobal. Once again demonstrating the speed at which payouts can be made read the full article →

CCRIF offers premium & parametric coverage benefits due to Covid-19

The CCRIF SPC (formerly known as the Caribbean Catastrophic Risk Insurance Facility) is set to extend discounts on premiums and other coverage benefits to certain of its members with the support of the World Bank, to assist them in continuing with their parametric disaster insurance protection, even despite the fiscal read the full article →

CCRIF Caribbean parametric risk pool grows over $1bn, as members renew

The CCRIF SPC (formerly known as the Caribbean Catastrophic Risk Insurance Facility) has expanded its parametric disaster insurance risk pool to more than $1 billion, as all of its Caribbean member countries renewed their coverage and some expanded the protection they benefit from. The CCRIF SPC provides parametric disaster insurance protection read the full article →

St Lucia increases parametric coverage under CCRIF for 2020

The Caribbean island of St Lucia has increased its participation level in the CCRIF SPC (formerly known as the Caribbean Catastrophic Risk Insurance Facility), buying an enlarged slice of parametric disaster insurance protection for 2020. The CCRIF SPC provides parametric disaster insurance protection to Caribbean and Central American nations, covering perils read the full article →

Caribbean earthquake could prompt CCRIF coverage assessment

A powerful magnitude 7.7 earthquake struck the Caribbean yesterday in the afternoon local time, swaying buildings as far away as Miami, Florida and causing some localised damage to countries including the Cayman Islands, Jamaica and Cuba. There have been no immediate reports of casualties and damage in the region appears relatively read the full article →

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 →