“This contribution to the Treasury comes at a good time and will no doubt help us recover from the impacts of these rains. The funds will go into the Consolidated Fund but we will arrange for the Ministry of Public Works to be able to use the resources for necessary repair work.” Mr. Martin Cox, Director of Finance and Economic Affairs, Barbados, speaking in 2014 on CCRIF’s payout of US$1.28 million under that country’s excess rainfall policy
“…the full impact of this reduction was however not felt due to the receipt of the insurance payout from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) for the damage caused by Tomas during the month of November 2010.” Hon. Christopher Sinckler, Minister of Finance and Economic Affairs, Barbados in his Financial Statement and Budgetary Proposals for 2011 delivered to Parliament, which indicated that fiscal revenues for 2010-2011 had decreased
“After exploring options for engaging in sovereign disaster risk fi nancing, Central American countries concluded that joining the CCRIF SPC facility was the most effi cient and cost-effective insurance mechanism to pool our risk. This will allow us to reduce our countries’ fi scal vulnerability to the adverse effects associated with earthquakes, tropical cyclones, excess rainfall and other events.”
“For Nicaragua, it is an honor to be the fi rst member of COSEFIN countries to join the CCRIF. This insurance will allow us to strengthen fi nancial resilience to natural disasters and continue our efforts to reduce poverty and respond to climate change challenges as part of our National Human Development Plan.”
“This cheque will be going directly to strengthening and rebuilding our agriculture sector and to paying for some of the costs that we have.” Hon. Allen Chastanet, Prime Minister, Saint Lucia, speaking about the CCRIF payout of US$3.8 million to Saint Lucia following Tropical Storm Matthew
“The early response to the aftermath of Matthew as well as the supportive facility put in place to help resource the required recovery and rebuilding effort also underline the critical importance of the regional institutional frameworks established by the Community, CDEMA and the Caribbean Catastrophe Risk Insurance Facility (CCRIF) which has already processed payment to two of the affected countries, Barbados and Haiti.”
“We know from bitter experience that even the most carefully crafted fi scal adjustment programme can be quickly derailed by a major climate event. Buying adequate insurance cover offers an efficient way of transferring some of this risk. The Caribbean Catastrophe Risk Insurance Facility (CCRIF) is an excellent vehicle for this purpose.”
The COAST insurance product supports governments’ efforts to rapidly put money into the hands of persons in the fisheries sector impacted by extreme weather, providing them with
Grand Cayman, Cayman Islands, April 27, 2020. CCRIF SPC invites applications for scholarships for 2020/21 to support students pursuing Masters level degree programmes in areas such as disaster risk management (DRM), natural resources management, climate change, civil with environmental engineering, actuarial science, and meteorology, among others. These scholarships are tenable at universities in the Caribbean, USA, UK and Canada and can be for either online or face-to-face programmes.
Guatemala (/ˌɡwɑːtəˈmɑːlə/ GWAH-tə-MAH-lə; Spanish: [gwateˈmala]), officially the Republic of Guatemala (Spanish: República de Guatemala), is a country in Central America bordered by Mexico to the north and west, Belize and the Caribbean to the northeast, Honduras to the east, El Salvador to the southeast and the Pacific Ocean to the south.