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Caribbean Catastrophe Risk Insurance Facility (CCRIF SPC)

CCRIF SPC is a not-for-profit risk pooling facility, owned, operated and registered in the Caribbean for Caribbean governments. It offers parametric insurance designed to limit the financial impact of catastrophic tropical cyclones, earthquakes and excess rainfall events on Caribbean governments by quickly providing short-term liquidity when a policy is triggered. Products are offered through segregated portfolios, which allows for total segregation of risk.

CCRIF also manages a Technical Assistance Programme, offering small grants for disaster risk management (DRM) and adaptation focused projects or capacity building initiatives.

Support provider

Japan, Canada, the European Union, the World Bank, the United Kingdom, France, the Caribbean Development Bank, Ireland, and Bermuda

Purpose of support

Creating enabling environments and building institutional capacity

Eligible countries and regions

Insurance is given to Caribbean and Central American CCRIF member countries.

Nineteen Caribbean governments are currently members of the Facility: 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.

Three Central American governments are currently members of the Facility: Nicaragua, Panama and Guatemala.

Financial instruments

Insurance

Decision-making information

CCRIF was developed under the technical leadership of the World Bank and with a grant from the Government of Japan.

CCRIF operations are executed by a number of service provider companies under the guidance of a Chief Executive Officer:

Risk Management Specialist
Insurance Manager
Reinsurance Broker
Asset Manager (there are two asset management companies)
Corporate Communications Manager, which also manages the CCRIF Technical Assistance Programme

Information on how to...

Understand steps to access

Receive technical assistance

Access small grants support

Climate objective

Mitigation

Sectors and themes

Disaster risk reduction

Type of recipient

Public entity at the national level

Co-financing required

Application timeframe

On a rolling basis.

Trustee or administrator

The Caribbean governments

Contact information

http://www.ccrif.org/

ccrif@ccrif.org

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Caribbean Catastrophe Risk Insurance Facility (CCRIF SPC)

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