News

Grand Cayman, Cayman Islands, July 3, 2019. CCRIF SPC and the World Bank are pleased to announce that on July 1, the Facility issued the Caribbean Oceans and Aquaculture Sustainability FaciliTy (COAST) fisheries parametric insurance policy to two of its member governments – Grenada and Saint Lucia. The COAST insurance policies provide coverage for fisherfolk and other players in the fisheries industry to enable them to recover quickly after weather-related events.  Initial funding for COAST has been provided by the U.S. State Department.
 

Grand Cayman, Cayman Islands, June 18, 2019.  As of June 1, all Caribbean members of CCRIF SPC completed the selection of their CCRIF insurance portfolio for 2019/20, with nine Caribbean governments increasing their level of coverage for at least one of their policies and one country purchasing cover for an additional peril (tropical cyclone) that it did not have last year.

Grand Cayman, Cayman Islands, April 10, 2019. The Caribbean Regional Fisheries Mechanism (CRFM) and CCRIF SPC have signed a Memorandum of Understanding to develop climate-resilient fisheries and aquaculture industries in the region. The purpose of the MOU is to formalize collaboration around the Caribbean Oceans and Aquaculture Sustainability Facility (COAST) initiative, which will help to reduce the risk that climate change poses to food security and nutrition and to mitigate climate change impacts on sustainable food production as it relates to the fisheries sector.

Grand Cayman, Cayman Islands, October 31, 2018. CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) announced today that for the second year in a row, Trinidad & Tobago received a payout on its Excess Rainfall policy following a period of heavy rainfall in October. The Government received a payout of US$2,534,550 (approximately TT$17 million) due to heavy rains between October 18 and 20 2018.