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CCRIF Happenings

Recent News

Grand Cayman, Cayman Islands, October 20, 2016 – On Monday October 17, CCRIF SPC completed payments totalling US$29,204,248 to the four CCRIF member countries affected by Hurricane Matthew. These payouts were made to Haiti, Barbados, Saint Lucia and St. Vincent & the Grenadines on their Tropical Cyclone and/or Excess Rainfall insurance policies – all within 14 days of the end of the event.

Grand Cayman, Cayman Islands, October 12, 2016 – CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) is now preparing to make additional payouts totalling almost US$8 million to CCRIF member countries. These payouts will be made to Haiti, Barbados, Saint Lucia and St. Vincent & the Grenadines as a result of the heavy rains from Hurricane Matthew, which triggered payments on these countries’ Excess Rainfall policies.

Hazard Report(s)

PDF icon 20161028-29_CCRIF_XSR_EventBriefing_Barbados_CARE_20161010_Final.pdf

This report describes the results of the Caribbean Rainfall Model on CCRIF member country Barbados. Other reports will be issued regarding other CCRIF member countries that have Excess Rainfall policies.

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.

Featured Report(s)

On April 18, 2015, COSEFIN members and CCRIF SPC gathered together to formally sign a Memorandum of Understanding allowing Central American countries access to low-cost, high-quality sovereign parametric catastrophe risk insurance through CCRIF SPC.

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).


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