Grand Cayman, Cayman Islands, September 26, 2019. CCRIF announced today that it has made two payouts to the Government of The Bahamas totalling US$12.8 million (US$12,824,153) following the passage of Hurricane Dorian that caused widespread devastation in the northern part of the country affecting 2 of the 16 main islands that make up this archipelago of islands and cays.
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.
Grand Cayman, Cayman Islands, April 10, 2019. The Caribbean Regional Fisheries Mechanism (CRFM) and CCRIF SPC have signed a Memorandum of Understanding to develop climate-resilient fisheries and aquaculture industries in the region. The purpose of the MOU is to formalize collaboration around the Caribbean Oceans and Aquaculture Sustainability Facility (COAST) initiative, which will help to reduce the risk that climate change poses to food security and nutrition and to mitigate climate change impacts on sustainable food production as it relates to the fisheries sector.
Grand Cayman, Cayman Islands, October 31, 2018. CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) announced today that for the second year in a row, Trinidad & Tobago received a payout on its Excess Rainfall policy following a period of heavy rainfall in October. The Government received a payout of US$2,534,550 (approximately TT$17 million) due to heavy rains between October 18 and 20 2018.
Bridgetown, Barbados, October 22, 2018. On Friday October 19th, Barbados Prime Minister Honourable Mia Amor Mottley met with CCRIF CEO Mr. Isaac Anthony, Deputy Chairperson Mrs. Desirée Cherebin and Board member Mrs. Faye Hardy at a short ceremony to mark the payout by CCRIF to the Government of Barbados following the passage of Tropical Storm Kirk in October. The payout of US$5.8 million – or BDS$11.6 million – was made under the country’s Excess Rainfall policy and was made within 14 days of the event.