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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

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.

On 31 July 2014, the National Hurricane Center (NHC) produced a weather outlook on the development of Tropical Storm Bertha east of the southern Lesser Antilles. Tropical Storm warnings and watches were in effect for many of the islands of the Lesser Antilles.

By 1500 UTC on 1 August 2014, Bertha was located about 70 miles (110 km) northeast of Barbados with maximum sustained winds of 50 mph (85 km/h). Later that day, the 2100 UTC weather outlook reported the centre of Bertha passing near the northern end of Martinique with maximum sustained winds still at 50 mph (85 km/h).

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.

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