The Valley, Anguilla – The Department of Disaster Management (DDM) has benefitted again from the Caribbean Catastrophic Risk Insurance Fund (CCRIF). Ms Stephanie Sewell an intern recruited under the CCRIF Regional Internship Programme, has been assisting with the development of a number of plans and proposals, over the past two (2) months.
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.
Caribbean and Central American countries formalize partnership for catastrophe risk insurance
Nicaragua is the first Central American country to sign up to the insurance
Bridgetown, Barbados, December 9, 2014 – Yesterday, CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) made an official presentation of US$1,284,882 to the Government of Barbados. This payment was due to Barbados under its excess rainfall insurance policy which was triggered by rains from a trough system that occurred in the Eastern Caribbean on November 21 and 22 2014. Barbados was the only CCRIF member country with an excess rainfall policy that was affected by this trough system.
Grand Cayman, Cayman Islands, November 25, 2014 – On November 20, 2014 CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) made payouts to the Governments of Anguilla and St. Kitts & Nevis under their excess rainfall insurance policies. These payments were due as a result of rains from a low pressure trough located over the northern Lesser Antilles islands between November 7 and 8. St. Kitts’ Meteorological Services recorded 125 mm of rainfall over the 2-day period from 8:00 pm on November 6 to 8:00 pm on November 8 at the Robert L.