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Jamaica seeks more disaster cover from CCRIF, to almost double spend

Jamaica is seeking a greater level of cover from the Caribbean and regional disaster risk financing initiative the CCRIF SPC (formerly known as the Caribbean Catastrophe Risk Insurance Facility) as it works with the World Bank to enhance disaster resilience.The Jamaican finance ministry said that it is working on a read the full article →

CCRIF SPC parametric excess rainfall policy pays Barbados $1.28m

Rainfall from a weather trough system that impacted Barbados in November has resulted in another payout from the CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) as it triggered the parametric excess rainfall policy.The CCRIF SPC, or CCRIF Segregated Portfolio Company, as it is now known, provides parametric weather read the full article →

CCRIF to make first excess rainfall payout to Anguilla for Gonzalo rains

The Caribbean Catastrophe Risk Insurance Facility's (CCRIF) parametric excess rainfall insurance product has been triggered for the first time by hurricane Gonzalo's rains, resulting in a $500,000 payout to the Government of Anguilla.Hurricane Gonzalo passed directly over Anguilla on the 13th October 2014, causing flooding damage to buildings and communities. read the full article →

Haiti’s CCRIF premiums funded by CDB, signs up for excess rainfall cover

The Caribbean Development Bank (CDB), a financial institution that assists Caribbean nations in financing social and economic programs within the countries, is financing Haiti's policies under the Caribbean Catastrophe Risk Insurance Facility again.The CDB is providing a grant of $2.57m to help ensure that Haiti has access to important natural read the full article →

Turks & Caicos looks to CCRIF excess rainfall cover for flood protection

The Turks & Caicos Islands may be the next Caribbean country to take up the new excess rainfall parametric insurance product from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) as it looks to become more financially resilient to flooding.The CCRIF, with the help of global reinsurance firm Swiss Re, launched read the full article →

8 Caribbean governments purchase CCRIF parametric rainfall insurance

Eight Caribbean government members of the Caribbean Catastrophe Risk Insurance Facility (CCRIF) have become the first to purchase the new parametric excess rainfall insurance product developed by the CCRIF and global reinsurance firm Swiss Re.Anguilla, Haiti, Barbados, Dominica, Grenada, St. Kitts & Nevis, St. Vincent & the Grenadines and Saint read the full article →

Personal parametric weather insurance trialled in Caribbean supported by CCRIF

The Caribbean Catastrophe Risk Insurance Facility (CCRIF) is broadening its reach with its first venture into personal insurance products and is supporting trials of a parametric personal weather insurance product designed to pay out to Caribbean residents after a natural disaster strikes.The CCRIF and its partners have teamed up to read the full article →

Caribbean Catastrophe Risk Insurance Facility members renew at reduced rates

All sixteen member governments of the Caribbean Catastrophe Risk Insurance Facility (CCRIF) have renewed their hurricane and earthquake parametric insurance coverage for the 2013/2014 policy year which began on the 1st June. All members benefit from a premium discount for the upcoming policy year.The CCRIF is a catastrophe risk pooling read the full article →

Caribbean Catastrophe Risk Insurance Facility excess rainfall product begins roll-out

Roll-out has begun for a long-awaited excess rainfall parametric insurance product from the Caribbean Catastrophe Risk Insurance Facility (CCRIF), the catastrophe risk pooling facility who provide parametric based disaster insurance cover to Caribbean countries. The product has been in development for a number of years but the CCRIF is now read the full article →

Caribbean Catastrophe Risk Insurance Facility (CCRIF) excess rainfall cover launching soon

Earlier this week we wrote that the Caribbean Catastrophe Risk Insurance Facility (CCRIF), the catastrophe risk pooling facility who provide parametric based disaster insurance cover to Caribbean countries, had finalised their renewals for the 2012-2013 policy year. All 16 of their member countries renewed their hurricane and earthquake cover and read the full article →