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Recent News

Grand Cayman, Cayman Islands, October 30, 2017. CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) announced today that Trinidad & Tobago will receive a payout of US$7,007,886 (approximately TT$47.4 million) on its Excess Rainfall policy following a period of heavy rainfall between October 18 and October 20 2017. CCRIF was able to determine the value of the payout after the end of this rainfall event and the payout will be made to the Government within 14 days after the end of the event.

Grand Cayman, Cayman Islands, September 22, 2017. CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) announced today that Dominica will receive a payout of US$19,294,800 under its tropical cyclone policy following the passage of Hurricane Maria on September 19. This payout will be made within 14 days of the hurricane. CCRIF was designed to provide quick liquidity to governments of the Caribbean and Central America following catastrophic impacts from tropical cyclones, earthquakes and excess rainfall.

Hazard Report(s)

PDF icon 20171113_CCRIF_EventBriefing_Nicaragua_EQ20171114_Final.pdf

A magnitude 6.5 earthquake occurred at 02:28:24 UTC on 13 November 2017, (20:28:24 on 12 November, local time and date), 16.8 km (10.4 mi) SE of Jacó, Costa Rica; 38.5 km (23.9 mi) SW of Tejar, Costa Rica and 41.2 km (25.6 mi) SW of San Rafael Abajo, Costa Rica. Initial estimates from the United States Geological Survey (USGS) located the epicentre of the event at 9.526°N, 84.505°W, and at a depth of 19.8 km (12.3 mi). Nicaragua was the only CCRIF member country affected by the earthquake.

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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CCRIF SPC Key Milestones 2007-2017

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CCRIF Documentary Part 1

CCRIF SPC Documentary Part 1

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