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CCRIF Happenings

AD CCRIF TOR Information Video 2014

Recent News

Grand Cayman, Cayman Islands, August 4, 2014 – The Caribbean Catastrophe Risk Insurance Facility (CCRIF) is pleased to announce that eight of its members have become the first countries to purchase its excess rainfall insurance coverage – for the 2014/2015 policy year.  

Grand Cayman, Cayman Islands, July 8, 2014 – The sixteen member countries of the Caribbean Catastrophe Risk Insurance Facility (CCRIF) will benefit from the first ever catastrophe (“cat”) bond issued by the World Bank (International Bank for Reconstruction and Development). This US$30 million transaction is the first of the World Bank’s newly created Capital-at-Risk Notes Program and will address earthquake and tropical cyclone risk in the CCRIF member countries.

Recent Hazard Event Reports

A magnitude 5.2 earthquake occurred at 23:34:14 UTC (18:34:14 local time) on 3 September 2014 south of the Cayman Islands. Initial estimates from the US Geological Survey (USGS) locate the epicentre of the event at 18.899ºN, 81.317ºW, and at a depth of 10 km. Reports from the Cayman Islands indicate that shaking intensities ranged from II to IV on the Modified Mercalli Index.

On 23 August 2014, the National Hurricane Center (NHC) produced a weather outlook on the development of a tropical depression over the Turks and Caicos Islands. Tropical storm warnings were issued for the Turks and Caicos Islands and portions of the Bahamas.

Featured Article

Hurricane Sandy passed through the Caribbean in October 2012, affecting three CCRIF member countries – Haiti, Jamaica and The Bahamas, although not to the extent of triggering their tropical cyclone policies.