For the 2019/20 policy year, all CCRIF members renewed their existing parametric insurance coverage; and 10 members increased their level of coverage for at least one of their policies compared to the 2018/19 policy year. Members purchased a total of 59 policies: 21 tropical cyclone (TC) policies, 15 earthquake (EQ) policies, 21 excess rainfall (XSR) policies and 2 COAST (fisheries) policies – an increase of four policies compared with the previous year.

Tropical Cyclone Iota was the thirty-first and most powerful tropical cyclone of the 2020 Atlantic Hurricane Season, overtaking in intensity the recent Hurricane Eta. Iota developed from a powerful tropical wave moving across the eastern Caribbean Sea, which evolved into a tropical depression on 13 November. Six hours later, it strengthened into a tropical storm while it was over the central Caribbean Sea, north of Colombia. In the following days Tropical Storm Iota intensified, becoming a major hurricane on 16 November.