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20 Oct 2016 description

Payments totalling US$29,204,248 were made to Haiti, Barbados, Saint Lucia and St. Vincent & the Grenadines on their Tropical Cyclone and/or Excess Rainfall policies by October 17 - within 14 days of end of hazard event.

Yesterday, CCRIF CEO Mr. Isaac Anthony officially presented the payout cheque for US$3,781,788 to Saint Lucia Prime Minister Honourable Allen Chastanet at a short ceremony at the Prime Minister’s Office.

13 Oct 2016 description

Grand Cayman, Cayman Islands, October 12, 2016 – CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) is now preparing to make additional payouts totalling almost US$8 million to CCRIF member countries. These payouts will be made to Haiti, Barbados, Saint Lucia and St. Vincent & the Grenadines as a result of the heavy rains from Hurricane Matthew, which triggered payments on these countries’ Excess Rainfall policies.

12 Oct 2016 description

Haiti, a Borrowing Member Country of the Caribbean Development Bank (CDB) is set to receive a payout of just over USD20 mn from CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) on the country’s tropical cyclone policy, following the passage of hurricane Matthew. CDB has paid Haiti’s catastrophe risk insurance premium to CCRIF since 2010.

13 Aug 2015 description

Grand Cayman, Cayman Islands, August 13, 2015 – The 16 Caribbean member governments of CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) completed their catastrophe insurance portfolios for 2015/2016. All 16 Caribbean members renewed their hurricane policies; all 13 that had earthquake policies renewed those; and 12 obtained excess rainfall coverage – an increase of 4 over the 8 countries that purchased excess rainfall policies for the first time last year.

06 Aug 2014 description

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.

07 Mar 2014 description

INTRODUCTION

This report, for the period 1 June – 30 November 2013, is for the first two quarters of the 2013/2014 fiscal and policy year for CCRIF. It is designed to provide an update on progress during this six-month period towards achievement of CCRIF’s Strategic Objectives (see Figure 1) as defined in the CCRIF Strategic Plan 2012/2013 – 2014/2015. In providing this progress update, this report also illustrates how the Facility upholds its customer values.

The report presents:

06 Aug 2013 description

INTRODUCTION

This report, for the period 1 March – 31 May 2013, is the report for the final quarter of the 2012/2013 fiscal and policy year for CCRIF. It is designed to provide an update on progress during this quarter towards achievement of CCRIF’s Strategic Objectives (see Figure 1) as defined in the CCRIF Strategic Plan 2012/2013 – 2014/2015. In providing this progress update, this report also illustrates how the Facility upholds its customer values.

21 May 2013 description

CCRIF Quarterly Report 1 December 2012 – 28 February 2013

The Caribbean Catastrophe Risk Insurance Facility (CCRIF) is the first multi-country risk pool in the world, and is also the first insurance instrument to successfully develop parametric policies backed by both traditional and capital markets. It is a regional catastrophe fund for Caribbean governments designed to limit the financial impact of devastating hurricanes and earthquakes by quickly providing financial liquidity when a policy is triggered.

05 Feb 2013 description

In this issue

  • Memorandum of Understanding with UWI-SRC

  • World Bank Implementation Completion and Results Report on CCRIF

  • Work Programmes with Regional Organisations

  • CCRIF Technical Assistance Programme

05 Feb 2013 description

INTRODUCTION

This report, for the period 1 June – 30 November 2012, is the first semiannual report, covering the first six months in the 2012/2013 fiscal and policy year for CCRIF. It is designed to provide an update on progress during this period towards achievement of CCRIF’s Strategic Objectives (see Figure 1) as defined in the CCRIF Strategic Plan 2012/2013 – 2014/2015. In providing this progress update, this report also illustrates how the Facility upholds its customer values.

The report presents:

10 Nov 2012 description

Grand Cayman, Cayman Islands, November 9, 2012 – The Caribbean Catastrophe Risk Insurance Facility (CCRIF) and the Seismic Research Centre (SRC) of The University of the West Indies have entered into a partnership to enhance the Accelerometric Network in the Eastern Caribbean and Jamaica in order to strengthen the evaluation and mitigation of seismic risk across the region.

22 May 2012 description

INTRODUCTION

This report, for the period 1 December 2011 – 29 February 2012, is the third quarterly report in the 2011/2012 fiscal and policy year for CCRIF. It is designed to provide an update on progress during this quarter towards achievement of CCRIF’s Strategic Objectives (see Figure 1) as defined in the CCRIF Strategic Plan 2009/2010 – 2011/2012. In providing this progress update, this quarterly report also illustrates how the Facility upholds its customer values.

28 Feb 2012 description

INTRODUCTION

This report, for the period 1 September – 30 November 2011, is the second quarterly report in the 2011/2012 fiscal and policy year for CCRIF. It is designed to provide an update on progress during this quarter towards achievement of CCRIF’s Strategic Objectives (see Figure 1) as defined in the CCRIF Strategic Plan 2009/2010 – 2011/2012. In providing this progress update, this quarterly report also illustrates how the Facility upholds its customer values.

The report presents:

17 Nov 2010 description

Grand Cayman, 17 November, 2010 - Today, the Caribbean Catastrophe Risk Insurance Facility (CCRIF) completed insurance payments to the Governments of Barbados, Saint Lucia and St. Vincent & the Grenadines following the passage of Tropical Cyclone Tomas which passed close to these islands on 30 and 31 October, 2010. CCRIF released to each country 50% of their payouts on 7 November, seven (7) days after the storm's passage - well before the end of the customary 14-day waiting period - to facilitate requests from the three countries.