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01 Jun 2018 description

Getting lenders to extend loans or provide interest forgiveness would free up money for climate-resilient development

By Sophie Hares

GRAND ANSE, Grenada, May 31 (Thomson Reuters Foundation) - Caribbean nations weighed down by debts must find ways to restructure what they owe to free up money for investment in climate-change resilience and disaster protection, country leaders said on Thursday.

22 May 2018 description
report Swiss Re

Since 1980, nine countries in Central America and the Caribbean have had at least half of their annual gross domestic product (GDP) wiped out by a natural catastrophe. The 2010 earthquake in Haiti had an estimated impact of 120% of GDP.

Caribbean Catastrophe Risk Insurance Facility (CCRIF SPC)

Established:
2007

Insured perils:
Tropical cyclone, earthquake, excess rainfall

Insurance instrument:
Parametric insurance

Trigger:
Modelled loss

03 May 2018 description

by Anastasia Moloney | @anastasiabogota | Thomson Reuters Foundation

In Guyana, young women were found selling sex next to remote gold mines from which they could not escape

By Anastasia Moloney

BOGOTA, April 30 (Thomson Reuters Foundation) - Hundreds of suspected victims of modern slavery were rescued in a major crackdown on human traffickers in 13 countries in the Caribbean, Central and South America, Interpol said on Monday.

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.