CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) announced that British Virgin Islands and Montserrat have joined the facility and purchased coverage for the 2018/19 policy year, beginning June 1. Both countries obtained tropical cyclone and excess rainfall policies …
Parametric insurance can play a significant role in closing the insurance protection gap – a problem that plagues economies in both the developing and developed world, according to a report published by Clyde & Co. The protection gap is the …
An announcement from African Risk Capacity (ARC) notes that “G7 leaders have singled out Africa’s first parametric catastrophe insurance pool, as a model upon which to develop catastrophe insurance solutions in vulnerable regions. “During the 41st G7 summit in June, …
The CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) announced that it has made payments to the Governments of Anguilla – $559,249 – and St. Kitts & Nevis -$1.055 million – under their excess rainfall insurance policies. The announcement …
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has issued a bulletin, which notes that Tropical Storm Bertha’s passage east of the southern Lesser Antilles did not produce any losses for CCRIF members, according to its loss calculation protocol. The announcement …
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) announced that eight of its members have become the first countries to purchase its excess rainfall insurance coverage – for the 2014/2015 policy year. CCRIF developed the program in conjunction with Swiss Re. …
The sixteen member countries of the Caribbean Catastrophe Risk Insurance Facility (CCRIF) has published an announcement, which points out that the organization “will benefit from the first ever catastrophe bond issued by the World Bank (International Bank for Reconstruction and …
The third day of the International Insurance Society’s Annual Seminar was an all-day session devoted entirely to the threat posed by climate change, the studies of its risks and the solutions available to face them. While the re/insurance industry is …
GC Securities, a division of MMC Securities Corp., a U.S. registered broker-dealer and member FINRA/NFA/SIPC, announced the placement of Floating Rate CCRIF Catastrophe-Linked Capital at Risk Notes, with notional principal of $30,000,000, issued by the International Bank for Reconstruction and …
The sixteen member governments of the Caribbean Catastrophe Risk Insurance Facility (CCRIF) have renewed their hurricane and earthquake insurance for the 2013/14 policy year that started June first. The bulletin noted: “Since CCRIF’s inception in 2007 – and despite increasing …
