Grand Cayman, 1 July 2010 – All sixteen members of the Caribbean Catastrophe Risk Insurance Facility (CCRIF) have renewed their policies for hurricane and earthquake coverage for the 2010/11 year beginning on 1 June – the start of the hurricane season. The National Oceanic and Atmospheric Administration forecast estimates an 85% chance of an above normal hurricane season this year. This could have serious implications for Caribbean islands and potential losses, especially given the poor economic conditions still affecting the region.
Bridgetown, Barbados 12 May, 2010 – On 12 and 13 May, over 40 representatives from Caribbean and international agencies will meet in Barbados to discuss the initial results from a recent investigation into the Economics of Climate Adaptation (ECA) in the Caribbean. This study, funded by the Caribbean Catastrophe Risk Insurance Facility as part of its technical assistance programme, was launched in February to enable the development of a fact base for developing sound climate change adaptation strategies in the region.
Grand Cayman, 15 March, 2010 – Since 2007, sixteen Caribbean governments have included parametric insurance policies against hurricanes and earthquakes from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) as part of their countries’ disaster risk management portfolios. In light of the recent earthquakes in Haiti and Chile, many of these countries are re-examining their preparedness for natural catastrophes, including their levels of coverage under CCRIF.
Bridgetown, Barbados, 24 February, 2010 – The Caribbean Catastrophe Risk Insurance Facility (CCRIF) and the Caribbean Institute of Meteorology and Hydrology (CIMH) are launching their Regional Rainfall Model on Thursday, 25 February, 2010 at CIMH in Husbands, Barbados. This synthetic rainfall generation model will enable the provision of excess rainfall insurance policies for Caribbean countries via CCRIF, and will provide a valuable tool for the region aimed at better managing the risks of extreme rainfall events.
Port-of-Spain, Trinidad & Tobago, 22 February, 2010 – The Caribbean Catastrophe Risk
Insurance Facility (CCRIF) and the United Nations Economic Commission for Latin America and
the Caribbean (UNECLAC) will sign a Memorandum of Understanding (MOU) formalising a
partnership to facilitate capacity building and to develop strategies for mitigating the physical and
socio-economic impacts of natural disasters, such as hurricanes and earthquakes, on countries in the
region.
6 February, 2010 – As efforts in Haiti start focusing on providing shelter for earthquake survivors, on the re-building and reconstruction process, and on improving scientific understanding of earthquake risks, it is not too soon to focus also on hydro-meteorological hazards. The hurricane season starts in four short months – on June 1, and Haiti’s population remains amongst the most vulnerable in the world to rainfall, flooding and landslide hazards.
