Grand Cayman, Cayman Islands, April 9, 2018. On March 19, 2018, CCRIF SPC hosted a Stakeholder Retreat in Miami, USA, as part of its 10th Anniversary Celebrations to bring together representatives from member countries, regional organizations and international development partners to help define the facility’s strategic direction to 2030 and determine how CCRIF can further support the countries in the region.
Grand Cayman, Cayman Islands, October 30, 2017. CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) announced today that Trinidad & Tobago will receive a payout of US$7,007,886 (approximately TT$47.4 million) on its Excess Rainfall policy following a period of heavy rainfall between October 18 and October 20 2017. CCRIF was able to determine the value of the payout after the end of this rainfall event and the payout will be made to the Government within 14 days after the end of the event.
Grand Cayman, Cayman Islands, September 22, 2017. CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) announced today that Dominica will receive a payout of US$19,294,800 under its tropical cyclone policy following the passage of Hurricane Maria on September 19. This payout will be made within 14 days of the hurricane. CCRIF was designed to provide quick liquidity to governments of the Caribbean and Central America following catastrophic impacts from tropical cyclones, earthquakes and excess rainfall.
Grand Cayman, Cayman Islands, September 19, 2017. CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) announced today that since its inception in 2007, it has made payouts of a little more than US$100 million to 12 of its 17 member countries – all within 14 days of the event. The US$100 million mark was reached following payouts under the excess rainfall policy of three countries – Anguilla, Turks & Caicos Islands and The Bahamas – as a result of rainfall from Hurricane Irma.
Grand Cayman, Cayman Islands, September 12, 2017 – CCRIF will make payments totalling US$29.6 million to 6 Caribbean governments impacted by Hurricane Irma under their tropical cyclone insurance policies.
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 the payouts for each country are:
Providenciales, Turks & Caicos Islands, May 25, 2017 – Today, the Caribbean Development Bank and CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) launched the Integrated Sovereign Risk Management in the Caribbean project. This project seeks to enable all Caribbean countries to take a more proactive approach towards country risk management, moving beyond planning for natural disaster risks such as climate change and events like hurricanes and earthquakes and recognizing the intrinsic linkages between disaster risk and other types such as economic,
Bridgetown, Barbados, February 23, 2017 – CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) launched its 10th anniversary celebrations at the Caribbean Development Bank (CDB) on February 20th under the theme “celebrating 10 years of innovation in catastrophe insurance… in the Caribbean and Central America”.
Grand Cayman, Cayman Islands, December 12, 2016 - CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) made a payout of US$1,110,193 to the Government of Nicaragua as a result of the passage of Hurricane Otto which triggered a payment on the countryís Tropical Cyclone policy. The payment was made on December 9th ñ 14 days after the passage of the hurricane.