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.
Grand Cayman, Cayman Islands, August 4, 2014 – The Caribbean Catastrophe Risk Insurance Facility (CCRIF) is pleased to announce that eight of its members have become the first countries to purchase its excess rainfall insurance coverage – for the 2014/2015 policy year.
Grand Cayman, Cayman Islands, July 8, 2014 – The sixteen member countries of the Caribbean Catastrophe Risk Insurance Facility (CCRIF) will benefit from the first ever catastrophe (“cat”) bond issued by the World Bank (International Bank for Reconstruction and Development). This US$30 million transaction is the first of the World Bank’s newly created Capital-at-Risk Notes Program and will address earthquake and tropical cyclone risk in the CCRIF member countries.
Grand Cayman, Cayman Islands, April 8, 2013 – The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has expanded its scholarship programme to include Caribbean universities – in addition to those in the United States, United Kingdom and Canada, previously available under the CCRIF Extra-Regional Scholarship Programme. CCRIF now invites applications for its new CCRIF Scholarship Programme for 2014.
Hurricane Sandy passed through the Caribbean in October 2012, affecting three CCRIF member countries – Haiti, Jamaica and The Bahamas, although not to the extent of triggering their tropical cyclone policies.
The “Livelihood Protection Policy” (LPP) was launched in Grenada on January 22, 2014. This new insurance product is designed to protect low-income people against extreme weather risks. Grenada becomes the third country in the region – following Saint Lucia and Jamaica – to offer this new product, which was developed by the “Climate Risk Adaptation and Insurance in the Caribbean” project.
Grand Cayman, August 19, 2013 – Over a two-day period, August 14 – 15, 25 meteorologists and disaster managers from across the region benefitted from training in the Caribbean Catastrophe Risk Insurance Facility’s (CCRIF’s) Real-Time Forecasting System (RTFS). The RTFS is an innovative forecasting tool which is designed to assist countries with pre-storm planning.
Grand Cayman, Cayman Islands, August 19, 2013 – The sixteen member governments of the Caribbean Catastrophe Risk Insurance Facility (CCRIF) renewed their hurricane and earthquake insurance for the 2013/14 policy year that started June 1. Since CCRIF’s inception in 2007 – and despite increasing economic and financial pressures – member countries have recognised the value of including CCRIF’s parametric hurricane and earthquake coverage in their national disaster risk management strategies.