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08 Nov 2016 description

November 7, 2016. Port-au-Prince, Haiti - Today the CEO of CCRIF SPC, Mr. Isaac Anthony met with Haiti’s Minister of Finance, Hon. Yves Bastien and his advisors to discuss the recent payouts of US$23.4 million to Haiti made under the country’s tropical cyclone and excess rainfall policies, as a result of Hurricane Matthew’s passage through that country last month. This is the largest payment ever made by CCRIF for a single event - with total payouts to Haiti representing approximately 46% of all payments made by CCRIF since its inception in 2007.

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.

06 Oct 2016 description

Grand Cayman, Cayman Islands, October 6, 2016 – CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) is preparing to make a payout to the Government of Haiti as a result of the passage of Hurricane Matthew which triggered a payment on the country’s Tropical Cyclone policy. Based on preliminary calculations, Haiti will receive a little over US$20 million – the largest payment ever made by CCRIF. This was revealed this afternoon by CCRIF Chairman Mr. Milo Pearson at the IMF/World Bank Group Annual Meetings.

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:

05 Nov 2013 description

In this issue

  • RTFS Training
  • CCRIF Supports Post Hurricane Sandy
  • Rehabilitation Efforts
  • Launch of Livelihood Protection Policy
  • CCRIF Announces Recipients of its Extra-regional Scholarship Programme
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.

16 Jul 2013 description

1 INTRODUCTION

On 7 July 2013, the National Hurricane Center (NHC) produced a weather outlook on a tropical wave which later developed into Tropical Storm Chantal over the central tropical Atlantic Ocean moving speedily in a west-northwestward direction towards the Lesser Antilles. Tropical Storm warnings and watches were in effect for many of the islands of the Lesser Antilles.

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.

21 May 2013 description

In this issue

CCRIF and the Caribbean Development Bank Host Strategic Donor Meeting
CCRIF Events and Happenings Some snapshots
CCRIF Implements 2013
Extra-Regional Scholarship Application Process Update on 2013/14
CCRIF Policy Renewals

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:

30 Oct 2012 description

1 INTRODUCTION

On 22 October 2012, the National Hurricane Centre produced a weather outlook including a tropical wave within the southwestern Caribbean Sea. Approximately 320 miles (515 km) south-southwest of Kingston, Jamaica, the system became well organised and was named Tropical Depression Eighteen. The system was upgraded later that same day to Tropical Storm Sandy.

29 Aug 2012 description

1 INTRODUCTION

On 17 August 2012 the National Hurricane Centre released its first weather outlook on a tropical wave system which had formed off the coast of Africa. By the following day the system appeared to be better organised as it moved towards favourable environmental conditions for development. At 0900 UTC on 21 August 2012 this system was classified as a Tropical Depression (#9) and by 2100 UTC it was upgraded to Tropical Storm Isaac.