News

16 September, 2010 – Today, the Caribbean Catastrophe Risk Insurance Facility (CCRIF) paid the Government of  Anguilla US$4,282,733 following the passage of Tropical Cyclone Earl which passed close to the island on 30 August, 2010.  This amount was due to the Government  based on its catastrophe insurance policy for hurricanes which forms part of the country’s disaster risk management strategy.   The value represents almost 20 times the annual premium of US$225,000 that the Government pays for hurricane coverage.

Grand Cayman, 31 August, 2010 – The Caribbean Catastrophe Risk Insurance Facility (CCRIF) is preparing to make a payout to the Government of Anguilla as a result of Tropical Cyclone Earl which passed close to Anguilla and other islands in the northeastern Caribbean as a major hurricane yesterday.

Grand Cayman, 18 August 2010 – The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has released the preliminary results of a study on the Economics of Climate Adaptation (ECA) in the Caribbean.

Grand Cayman, 1 July 2010 – All sixteen members of the Caribbean Catastrophe Risk Insurance Facility (CCRIF) have renewed their policies for hurricane and earthquake coverage for the 2010/11 year beginning on 1 June – the start of the hurricane season. The National Oceanic and Atmospheric Administration forecast estimates an 85% chance of an above normal hurricane season this year. This could have serious implications for Caribbean islands and potential losses, especially given the poor economic conditions still affecting the region.

Bridgetown, Barbados 12 May, 2010 – On 12 and 13 May, over 40 representatives from Caribbean and international agencies will meet in Barbados to discuss the initial results from a recent investigation into the Economics of Climate Adaptation (ECA) in the Caribbean. This study, funded by the Caribbean Catastrophe Risk Insurance Facility as part of its technical assistance programme, was launched in February to enable the development of a fact base for developing sound climate change adaptation strategies in the region.