Grand Cayman, Cayman Islands, November 16, 2021. CCRIF celebrates the success of its 2021 Regional Internship Programme: “Providing Young Caribbean Nationals with Work Experience from Anywhere”
Grand Cayman, Cayman Islands, November 10, 2021. CCRIF SPC is pleased to announce that the Government of Ireland – through Irish Aid – has provided €1 million (US$1.16 million) to support the rollout of COAST – CCRIF’s parametric insurance product for the fisheries sector – in five additional CCRIF member countries in the Caribbean. The Caribbean Ocean and Aquaculture Sustainability Facility (COAST) initiative was launched by CCRIF SPC with support from the World Bank and the US State Department in 2019.
Grand Cayman, Cayman Islands, October 25, 2021. CCRIF has recently provided another grant to the Government of Belize of US$43,140 to further enhance its early warning systems for extreme rainfall events. Since 2017, CCRIF has been supporting Belize to purchase and install automatic weather stations with grants totalling US$143,000. The first grant of US$100,000 in 2017, facilitated the purchase of 30 new automatic weather stations that were installed throughout the country.
Grand Cayman, Cayman Islands, September 3, 2021. CCRIF SPC has made a payout of approximately US$2.4 million to the Government of Trinidad and Tobago following a rainfall event that occurred during August 18-20, 2021. Caused by an Inter-Tropical Convergence Zone, the heavy rainfall resulted in flooding and landslides across southern and western Trinidad, making several roads impassable.
Grand Cayman, Cayman Islands, August 18, 2021. CCRIF SPC will make a payout of approximately US$40 million to the Government of Haiti following the devastating magnitude 7.2 earthquake that struck Haiti on August 14th, 2021, significantly impacting the city of Les Cayes. This payout represents the full coverage limit under the country’s parametric insurance policy for earthquakes for the 2021/22 policy year. As CCRIF’s insurance policies are parametric, payouts are made within 14 days of an event.
Grand Cayman, Cayman Islands, July 29, 2021. Following Tropical Cyclone Elsa, CCRIF made two payouts to the Government of Barbados under the country’s tropical cyclone and excess rainfall parametric insurance policies, totalling US$2.5 million. CCRIF also made payments totalling US$528,512 to three other member governments – Haiti, Saint Lucia, and St. Vincent and the Grenadines – under the Aggregate Deductible Cover (ADC) feature of CCRIF’s tropical cyclone policies. Hurricane Elsa was the fifth tropical cyclone in the 2021 Atlantic Hurricane Season.