Grand Cayman, Cayman Islands, August 13, 2015 – The 16 Caribbean member governments of CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) completed their catastrophe insurance portfolios for 2015/2016. All 16 Caribbean members renewed their hurricane policies; all 13 that had earthquake policies renewed those; and 12 obtained excess rainfall coverage – an increase of 4 over the 8 countries that purchased excess rainfall policies for the first time last year.
Caribbean and Central American countries formalize partnership for catastrophe risk insurance
Nicaragua is the first Central American country to sign up to the insurance
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.
This report was prepared at the request of the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) with support from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) to assess strategies for linking the ECLAC Damage and Loss Assessment (DaLA) Methology to the Post Disaster Needs Assessment (PDNA).Assessment_of_Strategies_for_linking_the_DaLA_and_PDNA_2014.pdf
The objective of this study is to determine whether the assessments carried out by the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) on the impact of disasters over the past decade accurately captured the extent of the damage experienced by caibbean states during this period, by comparing these estimates to actual recovery costs incurred by country.Review_of_ECLAC_DaLA_Assessments_in_the_Caribbean_2014.pdf