CCRIF SPC, formerly the Caribbean Catastrophe Risk Insurance Facility, is a segregated portfolio company, owned, operated and registered in the Caribbean. It limits the financial impact of catastrophic hurricanes, earthquakes and excess rainfall events to Caribbean and – since 2015 – Central American governments by quickly providing short-term liquidity when a parametric insurance policy is triggered. It is the world’s first regional fund utilizing parametric insurance, giving member governments the unique opportunity to purchase earthquake, hurricane and excess rainfall catastrophe coverage with lowest-possible pricing.
Unlike indemnity insurance, CCRIF’s parametric insurance products are insurance contracts that make payments based on the intensity of an event and the amount of loss calculated in a pre-agreed model caused by these events… CCRIF works to assist governments to financially protect their economies in the event they are impacted by a natural disaster. Parametric insurance really is a means by which governments can offload or transfer a portion of their risk to CCRIF… and receive funds within 14 days after a catastrophic event to begin recovery… or filling the gap between immediate response aid and long-term redevelopment… closing the protection gap.
Since its inception in 2007, CCRIF has made CCRIF has made 39 payouts totaling US$138.8 million to 13 member governments. To date, over 2.5 million persons in the Caribbean have benefited either directly or indirectly from these payouts.
CCRIF currently has 21 members:
19 Caribbean governments – Anguilla, Antigua & Barbuda, Bahamas, Barbados, Belize, Bermuda, British Virgin Islands, Cayman Islands, Dominica, Grenada, Haiti, Jamaica, Montserrat, St. Kitts & Nevis, Saint Lucia, Sint Maarten, St. Vincent & the Grenadines, Trinidad & Tobago and Turks & Caicos Islands
1 Central American government – Nicaragua, Panama
Company Details
- Employees
- 13
- Founded
- -
- Address
- 198 North Church Street, 2nd Floor,sagicor House,cayman Islands
- Industry
- Insurance
- NAICS
-
Insurance Carriers and Related ActivitiesAgencies, Brokerages, and Other Insurance Related Activities
- Website
- ccrif.org
- Keywords
- catastrophe risk insurance, parametric risk insurance, insurance for tropical cyclones, insurance for excess rainfall, insurance for earthquakes, mulit-country, multi peril risk pool, quick liquidity, disaster risk financing, innovation in disaster risk financing, disaster risk management, climate change adaptation, microinsurance, technical assistance, risk transfer, integrated risk transfer, parametric modelling, ex-ante risk financing, insurance for the fisheries sector.
- HQ
- Grand Cayman , Grand Cayman
Ccrif Spc (Formerly The Caribbean Catastrophe Risk Insurance Facility) Questions
Ccrif Spc (Formerly The Caribbean Catastrophe Risk Insurance Facility)'s website is ccrif.org
Ccrif Spc (Formerly The Caribbean Catastrophe Risk Insurance Facility)'s LinkedIn profile is https://ky.linkedin.com/company/ccrif-spc
Ccrif Spc (Formerly The Caribbean Catastrophe Risk Insurance Facility) has
13 employees.
View email and phone details for 13
employees at Ccrif Spc (Formerly The Caribbean Catastrophe Risk Insurance Facility).
Ccrif Spc (Formerly The Caribbean Catastrophe Risk Insurance Facility)'s industry is
Insurance
Ccrif Spc (Formerly The Caribbean Catastrophe Risk Insurance Facility)'s top competitors are
Swiss Re,
Asian Development Bank (Adb),
Monetary Authority Of Singapore (Mas),
African Risk Capacity Ltd.,
African Risk Capacity (Arc) Group,
Pacific Catastrophe Risk Insurance Company (Pcric),
Global Parametrics,
Seadrif Insurance Company,
Caribbean Development Bank,
Digicel Group.
Ccrif Spc (Formerly The Caribbean Catastrophe Risk Insurance Facility)'s categories are Insurance
Ccrif Spc (Formerly The Caribbean Catastrophe Risk Insurance Facility)'s founding year is 2007
