Panama City, Panama. March 12, 2021. The Directorate of Investments, Concessions and State Risks (DICRE) of the Ministry of Economy and Finance (MEF) of Panama, and CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility), with the support of the World Bank, held a technical workshop on CCRIF’s parametric insurance products, held virtually on March 11 and 12, for government officials responsible for disaster risk management.
A magnitude 5.0 earthquake occurred at 08:47:40 UTC on 10 February 2021, 38.8 km (24.1 mi) SSW off Jucuarán, El Salvador; 39.8 km (24.7 mi) SSE off Puerto El Triunfo, El Salvador and 144.5 km (89.8 mi) WNW off Chinandega, Nicaragua. Estimates from the United States Geological Survey (USGS) located the epicentre of the event at 12.949°N, 88.420°W, and at a depth of 91.6 km (56.9 mi). Nicaragua was the only CCRIF member country that was affected by the earthquake.
A magnitude 5.0 earthquake occurred at 07:05:02 UTC on 6 February 2021, 84.5 km (52.5 mi) SSE off Road Town, British Virgin Islands; 91.4 km (56.8 mi) N off Charlotte Amalie, Saint Thomas Island, U.S. Virgin Islands and 127.7 km (79.3 mi) NE off Fajardo, Puerto Rico. Estimates from the United States Geological Survey (USGS) located the epicentre of the event at 19.156°N, 64.816°W, and at a depth of 78.0 km (48.5 mi). The British Virgin Islands was the only CCRIF member country that was affected by the earthquake.
A magnitude 5.0 earthquake occurred at 05:35:28 UTC on 30 January 2021, 53.1 km (33 mi) S of Intipucá, El Salvador; 84.1 km (52.2 mi) SSE of Usulután, El Salvador and 97.7 km (60.7 mi) WNW of Chinandega, Nicaragua. Estimates from the United States Geological Survey (USGS) located the epicentre of the event at 12.721°N, 88.021°W, and at a depth of 68.5 km (42.6 mi). Nicaragua was the only CCRIF member country that was affected by the earthquake.
Risk-based design approach for the impact of climate change on critical infrastructure in the Caribbean
Herona D. Thompson, MSc. in Engineering Geology, University of Leeds, 2020
A magnitude 5.0 earthquake occurred at 05:35:28 UTC on 30 January 2021, 53.1 km (33 mi) S of Intipucá, El Salvador; 84.1 km (52.2 mi) SSE of Usulután, El Salvador and 97.7 km (60.7 mi) WNW of Chinandega, Nicaragua. Initial estimates from the United States Geological Survey (USGS) located the epicentre of the event at 12.721°N, 88.021°W, and at a depth of 68.5 km (42.6 mi). Nicaragua was the only CCRIF member country that was affected by the earthquake.
A magnitude 5.4 earthquake occurred at 23:21:41 UTC on 24 January 2021, 62.5 km (38.8 mi) ESE of Road Town, British Virgin Islands; 92.3 km (57.4 mi) NE of Saint Croix, U.S. Virgin Islands and 167.3 km (104 mi) E of Fajardo, Puerto Rico. Initial estimates from the United States Geological Survey (USGS) located the epicentre of the event at 18.252°N, 64.071°W, and at a depth of 94.0 km (58.4 mi). The British Virgin Islands was the only CCRIF member country that was affected by the earthquake.
As we continue to simultaneously respond to the COVID-19 pandemic, this payout, and certainly our participation in CCRIF generally, as well as other similar facilities, reduces the need for the shifting of fiscal resources from other priority areas to respond to disasters. We know from experience of Jamaica’s susceptibility to natural disaster events including flooding, and the significant damage it can cause to our infrastructure, which is why we have implemented a multi-layer strategy with a menu of financial instruments to manage the financing of disaster risk.
