CCRIF offers 31% discount for hurricane insurance: CARICOM BUSINESS

The Caribbean Catastrophic Risk Insurance Segregated Portfolio Company (CCRIF SPC) has announced that all of its member countries have renewed their parametric insurance coverage for over $1 billion.

The policy covers tropical cyclones, excess rainfall, earthquakes and fisheries and the coverage this year represents an 8% increase over years past.

“The European Union under its global COVID -19 response has provided a grant of €10 million to CCRIF for premium support and increasing coverage for its Caribbean members,” CCRIF noted. 

This provides a 26% discount on total gross premium or an increase in policy coverage under a member country’s CCRIF parametric insurance policies.“ Additionally, CCRIF is providing: 5% discount on gross  premium for tropical cyclone coverage and a further discount of 15% on additional coverage purchased by members for increased tropical cyclone and/or earthquake coverage for 2020/21. (NG) 

Extract from CARICOM BUSINESS Vol. 3 No 23, as of June 5, 2020

See full CARICOM BUSINESS Newsletter:

Caricom Business June 5 2020-Vol_3-No_23

Show More
Back to top button