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The Caribbean Catastrophe Risk Insurance Facility (CCRIF), a non-profit multi country risk pool who provide parametric hurricane and earthquake cover to Caribbean countries, has now entered into its fifth policy year after all 16 member countries renewed in June.

A magnitude 4.7 earthquake struck just off the southwest coast of Jamaica on the 16th May. The event was felt widely across western Jamaica and it was the latest in a series of tremors to affect the Caribbean island. No extensive damage or deaths were recorded although the ground was reported to have shaken for […]

Earlier this year the contract for management of the World Bank-sponsored Caribbean Catastrophe Risk Insurance Facility (CCRIF) came up for renewal and was put out to tender. As a result of this process Caribbean Risk Managers Ltd., a subsidiary of the CGM Gallagher group has been reappointed as managers of the facility.

The Caribbean Catastrophe Risk Insurance Facility (CCRIF) is doing a great job of providing insurance coverage for natural disasters to Caribbean nations. Well received by most, it’s now being seen as a potential model for a similar scheme to protect Pacific islanders against disasters which could destroy their property and businesses.

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.

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 agricultural industry. It will also […]

All 16 member countries of the Caribbean Catastrophe Risk Insurance Facility (CCRIF) have renewed their policies with the hurricane and earthquake insurance pool. Member governments have been able to take advantage of effectively a 10% decrease in premiums due to receiving more cover for the same premium as last year. By pooling their risk the […]

The Caribbean Catastrophe Risk Insurance Facility has not been triggered by Tropical Strom Arthur’s landfall on the Central American country of Belize at the start of June. Despite tropical storm force winds and heavy rain which caused heavy flooding, estimates of losses from the Belize government were put at approximately $60m. Arthur qualified as an […]

There is an interesting article in Sundays Jamaica Gleaner which I though may interest the audience of Artemis. The Caribbean Catastrophe Risk Insurance Facility is a risk pool covering the Caribbean islands, it launched last year to support Caribbean governments in the event of catastrophic hurricanes and earthquakes by providing financial liquidity when a parametric […]

Here are the ten most popular news articles, week ending October 22nd 2023, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.