Topic: CCRIF

With hurricane season looming, Cayman’s government is looking to increase the jurisdiction’s natural catastrophe cover.

Hurricane Melissa has wrought billions of dollars’ worth of havoc across Jamaica, Cuba and Haiti, yet the long-term impact on Cayman's insurance coverage is less clear.

While the lessons of Hurricane Ivan have changed how governments look at risk and disaster management, 20 years on there is still work to be done to protect vulnerable communities, according to the head of a regional risk insurance body. 

The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has signed a memorandum of understanding with Trinidad-based Guardian General Insurance to offer individuals and organisations protection against economic losses that result from extreme weather associated with wind and rain.

The Caribbean Catastrophic Risk Insurance Facility (CCRIF SPC) said that its member governments have renewed their parametric insurance coverage for tropical cyclones, excess rainfall,...

Member governments of the CCRIF, formerly known as the Caribbean Catastrophe Risk Insurance Facility, have renewed their insurance coverage for tropical cyclone, excess rainfall and earthquakes ahead the 1 June start of this year's hurricane season. Caribbean and Central American governments ceded more than US$1 billion in risk to the CCRIF and increased their overall coverage by 8%.