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4th of February 2012

Entire CCRIF membership renew policies

Gavin Bradshaw 21/07/2010

All sixteen members of the Caribbean Catastrophe Risk Insurance Facility (CCRIF) have renewed their policies for hurricane and earthquake coverage for the 2010/11 year, beginning on 1 June.

In a statement, the CCRIF said the need for the facility was stronger than ever, given the forecast by the National Oceanic and Atmospheric Administration of an 85% chance of an above normal hurricane season this year.

Policy pricing was reduced for the 2010/2011 renewals, as part of CCRIF’s planned strategy to minimise premium costs to its participating countries.

In addition, the new policies are now based on CCRIF’s second generation model which it said represents the levels of hurricane and earthquake risks faced in the Caribbean region at higher resolution than the initial model.

CCRIF is a risk pooling facility, owned, operated and registered in the Caribbean for Caribbean governments. Sixteen governments are currently members of CCRIF: Anguilla, Antigua & Barbuda, Bahamas, Barbados, Belize, Bermuda, Cayman Islands, Dominica, Grenada, Haiti, Jamaica, St Kitts and Nevis, St Lucia, St Vincent and the Grenadines, Trinidad and Tobago and the Turks and Caicos Islands.

Tags: Caribbean, Caribbean Catastrophe Risk Insurance Facility, Catastrophe, CCRIF, Earthquake, Hurricane

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Milmidioreize 28/05/2011 2:58pm

I agree, it's interesting, probably in the future ...

» Report this comment

Milmidioreize 30/05/2011 6:03am

I agree, it's unusual, probably I come in handy

» Report this comment

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