In 2009, the Caribbean Catastrophe Risk Insurance Facility (CCRIF) launched its Technical Assistance Programme. This Programme consists of three components and is designed to provide an ongoing mechanism for grant support within the Caribbean region for capacity building initiatives and the development and implementation of projects which have a strong potential for improving the effectiveness of risk management. The Programme aims to help Caribbean countries deepen their understanding of natural hazards and catastrophe risk, and the potential impacts of climate change on the region.
Grand Cayman, Cayman Islands, November 9, 2012 – The Caribbean Catastrophe Risk Insurance Facility (CCRIF) and the Seismic Research Centre (SRC) of The University of the West Indies have entered into a partnership to enhance the Accelerometric Network in the Eastern Caribbean and Jamaica in order to strengthen the evaluation and mitigation of seismic risk across the region.
Grand Cayman, Cayman Islands, June 25, 2012 – The Caribbean Catastrophe Risk Insurance Facility (CCRIF) is pleased to announce the retention of Sagicor Insurance Managers Ltd. (Sagicor) as insurance manager for the Facility for the next three years, commencing June 1, 2012. CCRIF was launched in June 2007 as a regional insurance fund with sixteen Caribbean countries as members and policy holders.
Grand Cayman, Cayman Islands, June 5, 2012 – As the 2012 Atlantic Hurricane Season begins, all sixteen member governments of the Caribbean Catastrophe Risk Insurance Facility (CCRIF) have committed to renew their hurricane and earthquake insurance for the 2012-2013 policy year. Since CCRIF’s inception in 2007, these countries have incorporated catastrophe insurance into their national disaster risk management programmes by purchasing CCRIF’s parametric hurricane and earthquake coverage.
Grand Cayman, Cayman Islands, 21 October, 2011 – The President of the Caribbean Development Bank, Dr. Warren Smith, will open the 6th meeting of the World Forum of Catastrophe Programmes (WFCP) in Jamaica on Monday, October 24, 2011. The 6th meeting of the WFCP is being hosted by the Caribbean Catastrophe Risk Insurance Facility (CCRIF), which is a member of the WFCP and the only member from the developing world.
Grand Cayman, Cayman Islands, August 28, 2011 – The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has announced that, while Hurricane Irene resulted in registered losses in six of its member countries (Anguilla, Antigua & Barbuda, the Bahamas, Haiti, St. Kitts & Nevis and the Turks & Caicos Islands), none of the policies of these countries were triggered. Of these territories, the highest losses were determined for the Bahamas and the Turks & Caicos Islands.
Grand Cayman, 2 August, 2011 – As the 2011 Atlantic Hurricane Season gets underway, the Caribbean Catastrophe Risk Insurance Facility (CCRIF) is providing assistance to Caribbean nations to prepare for the tropical cyclones that are expected to affect the region. This assistance takes two forms. The first is that CCRIF has made available its Real-Time Forecasting System (RTFS) to all its members.