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Grand Cayman, Cayman Islands, October 20, 2016 – On Monday October 17, CCRIF SPC completed payments totalling US$29,204,248 to the four CCRIF member countries affected by Hurricane Matthew. These payouts were made to Haiti, Barbados, Saint Lucia and St. Vincent & the Grenadines on their Tropical Cyclone and/or Excess Rainfall insurance policies – all within 14 days of the end of the event.
 

Grand Cayman, Cayman Islands, October 12, 2016 – CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) is now preparing to make additional payouts totalling almost US$8 million to CCRIF member countries. These payouts will be made to Haiti, Barbados, Saint Lucia and St. Vincent & the Grenadines as a result of the heavy rains from Hurricane Matthew, which triggered payments on these countries’ Excess Rainfall policies.

Grand Cayman, Cayman Islands, October 6, 2016 – 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 a payment 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 revealed this afternoon by CCRIF Chairman Mr. Milo Pearson at the IMF/World Bank Group Annual Meetings.

Grand Cayman, Cayman Islands, September 16, 2016 Through the CCRIF Regional Internship Programme, recent university graduates and young professionals throughout the Caribbean now have an opportunity to enhance their work experience in disaster risk management. Since the launch of the programme in 2015, CCRIF has placed 45 interns at 18 national and regional organizations, investing over US$140,000 so far in these young persons. These interns are citizens from 8 Caribbean countries. 

Grand Cayman, Cayman Islands, August 22, 2016 – On August  18, CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) made a payout of US$261,073 to the Government of Belize under its excess rainfall insurance policy, as a result of heavy rains that affected the country on August 4 & 5 during Hurricane Earl. CCRIF’s prompt payment to the Government demonstrated its commitment to provide policy payouts within two weeks after a qualifying hazard event. 

WASHINGTON, April 15, 2016 - The European Commission and the World Bank signed today a Euro 14 million agreement to be executed by the Multi-Donor Trust Fund (MDTF) to facilitate access to low cost, high quality catastrophe risk insurance for the governments of Central American countries and the Dominican Republic.  Full details attached.

Grand Cayman, Cayman Islands, September 10, 2015 – CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) has made a payment of EC$6.5 million (approximately 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.

Grand Cayman, Cayman Islands, August 13, 2015 – The 16 Caribbean member governments of CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) completed their catastrophe insurance portfolios for 2015/2016. All 16 Caribbean members renewed their hurricane policies; all 13 that had earthquake policies renewed those; and 12 obtained excess rainfall coverage – an increase of 4 over the 8 countries that purchased excess rainfall policies for the first time last year.

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