News

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.

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.

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:

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,