News

Grand Cayman, 18 August 2010 – The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has released the preliminary results of a study on the Economics of Climate Adaptation (ECA) in the Caribbean.

Grand Cayman, 1 July 2010 – All sixteen members of the Caribbean Catastrophe Risk Insurance Facility (CCRIF) have renewed their policies for hurricane and earthquake coverage for the 2010/11 year beginning on 1 June – the start of the hurricane season. The National Oceanic and Atmospheric Administration forecast estimates an 85% chance of an above normal hurricane season this year. This could have serious implications for Caribbean islands and potential losses, especially given the poor economic conditions still affecting the region.

Bridgetown, Barbados 12 May, 2010 – On 12 and 13 May, over 40 representatives from Caribbean and international agencies will meet in Barbados to discuss the initial results from a recent investigation into the Economics of Climate Adaptation (ECA) in the Caribbean. This study, funded by the Caribbean Catastrophe Risk Insurance Facility as part of its technical assistance programme, was launched in February to enable the development of a fact base for developing sound climate change adaptation strategies in the region.

Grand Cayman, 15 March, 2010 – Since 2007, sixteen Caribbean governments have included parametric insurance policies against hurricanes and earthquakes from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) as part of their countries’ disaster risk management portfolios. In light of the recent earthquakes in Haiti and Chile, many of these countries are re-examining their preparedness for natural catastrophes, including their levels of coverage under CCRIF.

Bridgetown, Barbados, 24 February, 2010 – The Caribbean Catastrophe Risk Insurance Facility (CCRIF) and the Caribbean Institute of Meteorology and Hydrology (CIMH) are launching their Regional Rainfall Model on Thursday, 25 February, 2010 at CIMH in Husbands, Barbados. This synthetic rainfall generation model will enable the provision of excess rainfall insurance policies for Caribbean countries via CCRIF, and will provide a valuable tool for the region aimed at better managing the risks of extreme rainfall events.