Caribbean and Central American countries formalize partnership for catastrophe risk insurance

Nicaragua is the first Central American country to sign up to the insurance

Bridgetown, Barbados, December 9, 2014 – Yesterday, CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) made an official presentation of US$1,284,882 to the Government of Barbados. This payment was due to Barbados under its excess rainfall insurance policy which was triggered by rains from a trough system that occurred in the Eastern Caribbean on November 21 and 22  2014. Barbados was the only CCRIF member country with an excess rainfall policy that was affected by this trough system.  

Grand Cayman, Cayman Islands, November 25, 2014 – On November 20, 2014 CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) made payouts to the Governments of Anguilla and St. Kitts & Nevis under their excess rainfall insurance policies. These payments were due as a result of rains from a low pressure trough located over the northern Lesser Antilles islands between November 7 and 8. St. Kitts’ Meteorological Services recorded 125 mm of rainfall over the 2-day period from 8:00 pm on November 6 to 8:00 pm on November 8 at the Robert L.

The Valley, Anguilla, October 29, 2014

Grand Cayman, Cayman Islands, October 27, 2014 – CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) is preparing to make a payout of  approximately half a million US dollars to the Government of Anguilla under its excess rainfall insurance policy, as a result of heavy rains that affected the country during Hurricane Gonzalo.