Jamaica seeking increased cover under CCRIF

The Government of Jamaica has decided to extend the coverage it receives from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) to include cover for flooding and periods of unusually heavy rainfall. The Minister of Finance told the press that he expected the extension to the facility to come into effect read the full article →

New parametric extreme weather microinsurance product in the Philippines

A new microinsurance product is targeting cooperatives in the Philippines to give them an affordable source of parametric insurance to protect them against the knock on effects to their loan portfolios from extreme weather events involving wind and rainfall. The Philippines is frequently subjected to typhoons and tropical storms and cooperative read the full article →

Jamaica’s experience of TS Nicole highlights need for CCRIF rainfall insurance policy

Once again the Caribbean Catastrophe Risk Insurance Facility (CCRIF) has hit the headlines because a tropical storm has failed to trigger a payout from the disaster facility despite high levels of destruction and losses. Tropical storm Nicole caused heavy damage on Jamaica due to heavy rainfall but as it didn't read the full article →

Guyana pushing for Caribbean rainfall cover by year end

The Guyanese government have issued a press release calling on the Caribbean Catastrophe Risk Insurance Facility (CCRIF) to get its much discussed rainfall insurance product ready by year end. The CCRIF teamed up with the Caribbean Institute of Meteorology and Hydrology (CIMH) to create and launch a rainfall model for read the full article →

China planning index-based weather insurance for farmers

The China Daily newspaper is today reporting that the country may have it's first weather insurance policies before the end of the year. The policies will be designed to help farmers cope with economic losses and hardship resulting from natural disasters. A pilot will be run in Fujian province to begin read the full article →

Caribbean Catastrophe Risk Insurance Facility could indirectly provide crop insurance

The Caribbean Catastrophe Risk Insurance Facility (CCRIF) is doing a good job of providing governments of the Caribbean with certainty that they will receive payments should storms or hurricanes above a certain magnitude hit their islands. It also see's itself as a potential source of agricultural crop weather insurance. It's unlikely read the full article →

WeatherBill launches RainCheck to protect against vacation rainfall

WeatherBill have today launched a new product aimed at people from the U.S. who are going on vacation and want some piece of mind that should it rain they will get some financial compensation. RainCheck is designed to provide ordinary holiday makers with a way to insure their trip against the read the full article →

Weather insurance; sometimes you win even when it rains

Here's an interesting case where weather insurance has been purchased, it's rained on the day of an event and the organisers are even more happy than if it hadn't rained at all. A rare thing you might think. The town of Amherts in Massachusetts was celebrating it's 250th anniversary with read the full article →

Caribbean Catastrophe Risk Insurance Facility working on excess rainfall product

The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has joined up with the  Caribbean Institute for Meterology and Hydrology (CIMH) and Kinetic Analysis Corporation (Kinanco) to develop and test a parametric excess rainfall insurance product for catastrophic flood coverage in the region.The new rainfall product will be particularly relevant for the read the full article →

Index-based weather insurance availability in India expanding

Iffco Tokio have announced today that they are expanding the availability of their Barish Bima Yojna insurance product to further districts. The product, designed to protect farmers crops from either deficit or excess rainfall, has been well received and should serve as a model for others seeking to tap emerging read the full article →