Will CCRIF consider developing a product for the agriculture sector or utility companies?
Yes and in fact both areas are under consideration. CCRIF is currently collaborating with the Caribbean Electric Utility Service Corporation (CARILEC) in developing an insurance programme to provide parametric wind coverage to electric utilities in the region to enable cost-effective protection of their highly vulnerable overhead transmission and distribution systems. With respect to the agricultural sector, CCRIF is closely monitoring activities by the World Bank and other development agencies with a view to ascertaining how CCRIF can be best utilised as part of the solution for the provision of index-based agricultural coverage, via governments or their agencies, to farmers. CCRIF is supportive of the efforts to bring such coverage into the pipeline and, if and when that happens, CCRIF would likely play a risk transfer role in the exercise and also provide technical support.