CCRIF SPC

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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 →

Barbados to receive $5.8mn payout from CCRIF parametric rainfall policy

The CCRIF SPC (formerly called the Caribbean Catastrophe Risk Insurance Facility), the parametric disaster insurance facility serving the Caribbean and Central America, is set to make its first payout of the 2018/2019 policy year to Barbados of more than $5.8 million following the passage of Tropical Storm Kirk.Heavy rainfall that read the full article →

CCRIF to grow risk pool with addition of St. Maarten

The CCRIF SPC (formerly known as the Caribbean Catastrophe Risk Insurance Facility) is set to grow its risk pool again with the addition of a new member in St. Maarten, which takes the number of members of the facility to 20 countries – 19 Caribbean governments and 1 Central American read the full article →

Haiti to get Caribbean Development Bank support for CCRIF premiums

The Caribbean island nation of Haiti is to receive grant funding to help pay its premiums for parametric insurance cover from the CCRIF SPC (formerly known as the Caribbean Catastrophe Risk Insurance Facility).The Caribbean Development Bank (CDB) has approved a grant of $3 million to support Haiti’s 2018-2019 insurance premiums read the full article →

CCRIF to “stay true” to parametric roots of providing “quick payouts”

The CCRIF SPC (formerly known as the Caribbean Catastrophe Risk Insurance Facility) has said that it intends to "stay true" to its roots of providing parametric insurance protection, while expanding the range of products offered and continuing to provide "quick payouts."The CCRIF SPC announced the retirement of Milo Pearson who read the full article →

CCRIF expands risk pool with two new countries, higher limits bought

The CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) has expanded its parametric risk pool for the 2018-19 policy year, with the addition of two new countries, the British Virgin Islands and Montserrat who both joined the facility as of June 1st and existing members buying more protection.The addition read the full article →

Bahamas agrees restructured regional CCRIF parametric triggers

The government of the Bahamas has signed back up to parametric insurance coverage from the CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) for the coming hurricane season, but on a restructured basis with the country divided into three regional zones.The new arrangement, announced by the deputy PM and read the full article →

CCRIF looks to scale up parametric protection, add new products

The CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) is ten years old this year and is it looks to the future the parametric insurance facility wants to better serve its members by scaling up the protection it offers, adding new products, and ultimately expanding the CCRIF risk pool.CCRIF read the full article →

CCRIF parametric rainfall policy pays out $7m to Trinidad & Tobago

The CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility), the parametric disaster insurance facility serving the Caribbean and Central America, has made another payout following torrential October rainfall that affected Trinidad & Tobago.CCRIF said that Trinidad & Tobago will receive $7,007,886 (approximately TT$47.4 million) after its parametric Excess Rainfall read the full article →