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Grand Cayman, Cayman Islands, October 20, 2023. CCRIF SPC made two payouts totalling US$3.4 million to the governments of Antigua and Barbuda and the British Virgin Islands following Tropical Storm Philippe. Philippe made landfall on Antigua and Barbuda on October 2nd and passed near the British Virgin Islands on October 4th, causing heavy rains and flooding in both countries. CCRIF made payouts on these countries’ parametric insurance policies for Excess Rainfall as follows:

September 14, 2023. Grand Cayman, Cayman Islands. CCRIF SPC is pleased to welcome Honduras as its fourth member from Central America. The Government purchased parametric insurance coverage for excess rainfall, effective from 1 June 2023. CCRIF CEO Mr. Isaac Anthony in welcoming Honduras said, “I am happy to welcome Honduras to CCRIF and look forward to continuing to engage with the Government as it accesses CCRIF parametric insurance as an effective means of closing the protection gap and strengthening the country’s public financial management framework.