A magnitude 5.1 earthquake occurred at 11:22:21 (UTC) on 16 April 2023, 31.9 km (19.8 mi) S of Saint Andrew, Dominica; 3.5 km (2.2 mi) NNW of Grand-Bourg, Guadeloupe and 34.9 km (21.7 mi) NW of Capesterre-Belle-Eau, Guadeloupe. Initial estimates from the United States Geological Survey (USGS) located the epicentre of the event at 15.853°N, 61.306°W, and at a depth of 104.1 km (64.68 mi).
A magnitude 5.1 earthquake occurred at 06:39:06 (UTC) on 6 April 2023, 16.1 km (10 mi) SE of Moyogalpa, Nicaragua; 24 km (14.9 mi) S of Rivas, Nicaragua and 30.6 km (19 mi) WNW of Nandaime, Nicaragua. Final estimates from the United States Geological Survey (USGS) located the epicentre of the event at 11.650°N, 85.794°W, and at a depth of 10 km (6.2 mi).
This event briefing describes the impact of rainfall in Trinidad, which was associated with a Covered Area Rainfall Event (CARE), starting on 25 April and ending on 27 April 2023. The Rainfall Index Loss (RIL) was below the attachment point of Trinidad and Tobago’s excess rainfall policy for Trinidad1 and therefore no payout is due.
Grand Cayman, Cayman Islands, March 29, 2023. On Thursday March 16, 2023, CCRIF SPC and CEPREDENAC (the Coordination Center for the Prevention of Disasters in Central America and the Dominican Republic) signed a Memorandum of Understanding on the margins of the CCRIF Regional Technical Workshop for Central America on Disaster Risk Financing and CCRIF Parametric Insurance held in Panama City, Panama, on March 15 and 16, 2023.
A magnitude 5.3 earthquake occurred at 18:46:06 (UTC) on 27 February 2023, 55.1 km (34.2 mi) E of Jiquilillo, Nicaragua; 85 km (52.8 mi) E of El Viejo, Nicaragua and 86.4 km (53.7 mi) ESE of Corinto, Nicaragua. Final estimates from the United States Geological Survey (USGS) located the epicentre of the event at 12.652°N, 87.950°W, and at a depth of 77.3 km (48.03 mi).
CCRIF’s ability to provide parametric insurance coverage has always been underpinned by its parametric insurance models – which have evolved over the years... moving from off the shelf models, to CCRIF customized models and fi nally to models that are fully owned by CCRIF.
From its inception, CCRIF has based its operations on continuous improvement, and this has emerged as one of the core principles underpinning its corporate governance framework.
CCRIF has 24 members – 8 more than the original 16 governments that joined in 2007 – 3 from Central America and 19 from the Caribbean and 2 electric utility companies. CCRIF helps to mitigate the short-term cash fl ow problems small developing economies suffer after major natural disasters.
A critical challenge is often the need for short-term liquidity to maintain essential government services until additional resources become available.
Grand Cayman, Cayman Islands, February 27, 2023. Over 50 technocrats from 18 CCRIF Caribbean member countries and two regional organizations, met face-to-face in Miami over two days – February 16 and 17, 2023 – to deepen their knowledge and understanding of CCRIF’s parametric insurance models and products. CCRIF also took the opportunity to share with members the upgrades to its tropical cyclone, excess rainfall and earthquake models that are expected to underpin the Facility’s policies for the 2023/24 policy year which begins on June 1, 2023.
A magnitude 5.0 earthquake occurred at 13:13:23 (UTC) on 2 February 2023, 96.1 km (59.7 mi) WNW of Saint Paul, Antigua and Barbuda; 49.4 km (30.7 mi) SSW of Beauséjour, Guadeloupe and 62.2 km (38.6 mi) SW of Le Moule, Guadeloupe. Final estimates from the United States Geological Survey (USGS) located the epicentre of the event at 16.727°N, 60.935°W, and at a depth of 23.7 km (14.72mi).