News

Grand Cayman, Cayman Islands, September 6, 2019.  CCRIF will pay The Bahamas approximately eleven million United States dollars (US$10,936,103) following the passage of Hurricane Dorian that caused widespread devastation in the northern part of the 700-island archipelago. The Bahamas has 3 tropical cyclone policies with CCRIF, each one covering a section or zone of the archipelago – North West, South East and Central. It is the tropical cyclone policy for the North West Zone – which includes the Abaco Islands and Grand Bahama – that was triggered.

Grand Cayman, Cayman Islands, August 2, 2019. Under its Regional Internship Programme for 2019, CCRIF has placed 19 young university graduates from 7 Caribbean countries as interns in 14 national or regional host organizations to gain work experience and assist these organizations with undertaking key assignments or research. Each year CCRIF allocates US$75,000 to the programme which is used to provide each intern with a stipend for the 2-month internship and for airfare and accommodation for those interns placed in organizations outside of their home country.

Grand Cayman, Cayman Islands, July 3, 2019. CCRIF SPC and the World Bank are pleased to announce that on July 1, the Facility issued the Caribbean Oceans and Aquaculture Sustainability FaciliTy (COAST) fisheries parametric insurance policy to two of its member governments – Grenada and Saint Lucia. The COAST insurance policies provide coverage for fisherfolk and other players in the fisheries industry to enable them to recover quickly after weather-related events.  Initial funding for COAST has been provided by the U.S. State Department.
 

Grand Cayman, Cayman Islands, June 18, 2019.  As of June 1, all Caribbean members of CCRIF SPC completed the selection of their CCRIF insurance portfolio for 2019/20, with nine Caribbean governments increasing their level of coverage for at least one of their policies and one country purchasing cover for an additional peril (tropical cyclone) that it did not have last year.