News

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.

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.