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2017

CCRIF to Make 1st Payout to Trinidad & Tobago after October Rains

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.

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CCRIF to Make Payout to Dominica of US$19 million Following the Passage of Hurricane Maria

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.

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CCRIF Reaches US$100 million Milestone in Payouts

Grand Cayman, Cayman Islands, September 19, 2017. CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) announced today that since its inception in 2007, it has made payouts of a little more than US$100 million to 12 of its 17 member countries – all within 14 days of the event. The US$100 million mark was reached following payouts under the excess rainfall policy of three countries – Anguilla, Turks & Caicos Islands and The Bahamas – as a result of rainfall from Hurricane Irma.

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Turks and Caicos Islands (TCI) to receive US$13.6 million from CCRIF Following the Devastating Impacts of Hurricane Irma

Grand Cayman, Cayman Islands, September 12, 2017 CCRIF will make payments totalling US$29.6 million to 6 Caribbean governments impacted by Hurricane Irma under their tropical cyclone insurance policies.

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CCRIF to make payouts totalling US$15.6 million (EC$42 million) after Hurricane Irma

Grand Cayman, Cayman Islands, September 7, 2017 – CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) will be making payouts totalling approximately US$15.6 million (EC$42 million) to the Governments of Antigua & Barbuda, Anguilla and St. Kitts & Nevis as a result of the passage of Hurricane Irma which triggered payments on these countries’ Tropical Cyclone policies. Preliminary calculations of the payouts for each country are:

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CDB and CCRIF Launch Integrated Sovereign Risk Management in the Caribbean Project

Providenciales, Turks & Caicos Islands, May 25, 2017 – Today, the Caribbean Development Bank and CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) launched the Integrated Sovereign Risk Management in the Caribbean project.  This project seeks to enable all Caribbean countries to take a more proactive approach towards country risk management, moving beyond planning for natural disaster risks such as climate change and events like hurricanes and earthquakes and recognizing the intrinsic linkages between disaster risk and other types such as economic,

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CCRIF provides Support to Belize to Improve National Rainfall Monitoring and Assessment

Belize City, Belize, March 23, 2017 – CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) and the Government of Belize have signed an agreement for CCRIF to provide US$100,000 to the Government to purchase 40-50 automatic weather stations that will provide the Meteorological Service of Belize with access to real-time rainfall data.
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CCRIF Celebrates 10 Years of Innovation in Catastrophe Risk Insurance

Bridgetown, Barbados, February 23, 2017 – CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) launched its 10th anniversary celebrations at the Caribbean Development Bank (CDB) on February 20th under the theme “celebrating 10 years of innovation in catastrophe insurance… in the Caribbean and Central America”. 
 

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