An Example of how Weather-based Sovereign Risk Insurance and Microinsurance can Contribute to Effective Social Protection

This publication highlights CCRIF’s support to its members and the people of the Caribbean for disaster risk management through its Technical Assistance Programme.

In undertaking the development of the CCRIF parametric insurance coverage, significant investment has gone into developing the underlying catastrophe models. Catastrophe models are essential tools in assessing the risk associated with catastrophe events. The CCRIF model is based on robust datasets all developed within the context of the particular hazards of relevance to the client countries.

Caribbean and Central American countries face a number of primary natural hazard risks, particularly earthquake and hurricane risks. Secondary risks such as those from flooding and landslides, storm surge and wave impacts, and tsunamis also pose significant threat. Additionally, these countries are frequently affected by extreme precipitation events that are often, but not always, induced by tropical cyclones.

This book provides a collection of questions and answers that provide a comprehensive overview of CCRIF and its products and services as well as its role within the wider context of disaster risk management.