The current model for excess rainfall is the XSR 2.5 model and has been used to underpin CCRIF’s
The System for Probabilistic Hazard Evaluation and Risk Assessment (SPHERA) model has been used to underpin CCRIF’s TC policies since the 2019/20 year.
The System for Probabilistic Hazard Evaluation and Risk Assessment (SPHERA) model has been used to underpin CCRIF’s EQ policies since the 2019/20 year.
Grand Cayman, Cayman Islands, December 5 2019. CCRIF SPC delivered its three-day training programme, “Understanding Disaster Risk Financing, CCRIF Parametric Policies and the Relationship with Fiscal and Economic Policy” to Central American countries on November 20-22, 2019 in Mexico City.
Grand Cayman, Cayman Islands, October 16, 2019. CCRIF SPC is pleased to welcome the Government of Guatemala to the Facility as its third Central American member. Guatemala has purchased parametric insurance cover for excess rainfall for the 2019/20 policy year. CCRIF’s membership now stands at 22 countries – 19 from the Caribbean and 3 from Central America.
Grand Cayman, Cayman Islands, September 26, 2019. CCRIF announced today that it has made two payouts to the Government of The Bahamas totalling US$12.8 million (US$12,824,153) following the passage of Hurricane Dorian that caused widespread devastation in the northern part of the country affecting 2 of the 16 main islands that make up this archipelago of islands and cays.
Grand Cayman, Cayman Islands, September 6, 2019. CCRIF will pay The Bahamas approximately eleven million United States dollars (US$10,936,103) following the passage of Hurricane Dorian that caused widespread devastation in the northern part of the 700-island archipelago. The Bahamas has 3 tropical cyclone policies with CCRIF, each one covering a section or zone of the archipelago – North West, South East and Central. It is the tropical cyclone policy for the North West Zone – which includes the Abaco Islands and Grand Bahama – that was triggered.