ccrif
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CCRIF Welcomes Grant of €1 million (US$1.16 million) from Irish Aid, Allowing Five Additional Caribbean Countries to Access Fisheries Insurance
CCRIF SPC is pleased to announce that the Government of Ireland – through Irish Aid – has provided €1 million (US$1.16 million) to support the rollout of COAST – CCRIF’s parametric insurance product for the fisheries sector – in five additional CCRIF member countries in the Caribbean. The Caribbean Ocean and Aquaculture Sustainability Facility (COAST) initiative was launched by CCRIF…
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Trinidad and Tobago asks regional catastrophe facility for financial help
The Ministry of Finance has requested the Caribbean Catastrophe Risk Insurance Facility (CCRIF) to urgently disburse funds under our catastrophe insurance policy. This was confirmed via a tweet by Finance Minister Colm Imbert. Imbert said in the tweet that the CCRIF usually deals only with hurricane relief, but that two years ago, the Ministry of Finance paid for additional coverage for…
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CCRIF to pay US15.6 Million to Antigua/Barbuda, Anguilla, St. Kitts/Nevis after Irma
Grand Cayman, Cayman Islands, September 7, 2017 – CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) will be making payouts totalling approximately US$15.6 million (EC$42 million) to the Governments of Antigua & Barbuda, Anguilla and St. Kitts & Nevis as a result of the passage of Hurricane Irma which triggered payments on these countries’ Tropical Cyclone policies. Preliminary calculations of…
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CARICOM Secretariat salutes Risk Insurance Facility for meeting the region’s needs
The Caribbean Community (CARICOM) Secretariat has congratulated the CCRIF SPC on its Tenth (10th) Anniversary. A segregated portfolio company (SPC), CCRIF SPC was formerly the Caribbean Catastrophe Risk Insurance Facility (CCRIF). The company has been lauded as the world’s first regional parametric risk insurance pool, and another CARICOM best practice that can be shared with the world. According to the…
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CCRIF completes 29 million dollar payments to Member Governments affected by Hurricane Matthew
The Regional Institution set up to provide rapid cash flow support to Member States after major natural disasters has paid almost 30 million US dollars to four countries affected by the recent passage of the destructive hurricane Matthew. The CCRIF-SPC (The Caribbean Catastrophe Risk Insurance Facility – Segregated Portfolio Company) has announced that completed payments totalling US$29,204,248 were made…
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CCRIF to make additional payouts to countries affected by Hurricane Matthew
GEORGE TOWN, Cayman Islands, Oct. 13, CMC – CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) is now preparing to make additional payouts totaling almost US$8 million to CCRIF member countries that were affected by Hurricane Matthew. The scheduled payouts have been triggered by the Excess Rainfall policies of Haiti, Barbados, St Lucia and St. Vincent & the Grenadines…
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CCRIF Ready to Pay Haiti a little over US$20 Million Following Passage of Hurricane Matthew
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 payments 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…
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Dominica gets maximum payout from CCRIF for flood damage
The CCRIF SPC, formerly the Caribbean Catastrophe Risk Insurance Facility, has made a payment of EC$6.5 million (US$2.4 million), the maximum payable under the policy, to the government of Dominica under the Facility’s Excess Rainfall Programme, as a result of rains that occurred during Tropical Storm Erika on August 27, 2015. CCRIF will also, following consultation with the government, provide additional…
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CDB approves US$2.37M in grant assistance for Haiti Catastrophe Risk Insurance
BRIDGETOWN, Barbados – The Board of Directors of the Caribbean Development Bank (CDB) today approved grant assistance of US$2,377,250 to the Government of Haiti to meet the country’s insurance premium for coverage being provided by the Caribbean Catastrophe Risk Insurance Facility (CCRIF) for the 2015-2016 hurricane season. Haiti is one of 16 Caribbean nations that buy policies from CCRIF, which provides…
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Caribbean and Central American countries formalize partnership for catastrophe risk insurance
Washington, USA, April 18th, 2015 – The Council of Ministers of Finance of Central America, Panama and the Dominican Republic (COSEFIN) and CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) signed today a memorandum of understanding that enables Central American countries to formally join the facility to access low cost, high quality sovereign catastrophe risk insurance. During the ceremony, CCRIF…
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