News

Grand Cayman, Cayman Islands, September 8, 2020. CCRIF SPC made a payout of approximately US$7.2 million to the Government of Haiti on its Excess Rainfall (XSR) parametric insurance policy following three days of heavy rainfall associated with Tropical Cyclone Laura.

Continuing and Professional Education Centre. Tuesday, August 25, 2020 — The UWI Open Campus and CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) successfully delivered a train-the-trainer workshop on a new course to be offered at the University, “Disaster Risk Financing for the Sustainable Development of Small Island Developing States (SIDS)”.

Grand Cayman, Cayman Islands, June 24, 2020. CCRIF SPC made a payout of US$203,136 to the Government of Belize on its Excess Rainfall parametric insurance policy following three days of heavy rains during Tropical Storms Amanda and Cristobal. Amanda was a tropical cyclone that originated in the Pacific Ocean and brought rains that affected Belize on 30 May and then weakened. However, the remnants of Amanda then reorganized to form Tropical Storm Cristobal in the Gulf of Mexico – thus becoming a cross-over cyclone from the Pacific to the Atlantic.

Grand Cayman, Cayman Islands, June 22, 2020. CCRIF paid the Government of Guatemala approximately US$3.6 million under its excess rainfall (XSR) parametric insurance policy for nine days of rain that occurred during Tropical Storms Amanda and Cristobal. The policy was triggered by rains that started on May 31.

Grand Cayman, Cayman Islands, June 16, 2020. CCRIF is pleased to announce that member countries of the Council of Ministers of Finance of Central America, Panama, and the Dominican Republic (COSEFIN) will receive special benefits on CCRIF SPC parametric insurance policies for policy year 2020/21 as part of the Facility’s response to the COVID-19 pandemic. These benefits include a 50 per cent reduction in premium costs on their parametric insurance policies or a mutually agreed increase in CCRIF coverage at no additional cost or a combination of both.