Reinsurance News
CCRIF
Four leading development risk pools consider joint reinsurance and risk finance platform
2nd March 2026
The four leading development insurer parametric risk pools — Pacific Catastrophe Risk Insurance Company (PCRIC), African Risk Capacity (ARC), Caribbean Catastrophe Risk Insurance Facility (CCRIF SPC), and Southeast Asia Disaster Risk Insurance Facility (SEADRIF) — have agreed to examine the feasibility of a shared risk finance and reinsurance platform designed ... Read the full article
CCRIF introduces Livelihood Protection Policy to support vulnerable groups after severe weather events
4th December 2025
CCRIF, a regional risk pooling organisation that provides parametric insurance to Caribbean and Central American governments, has introduced the Livelihood Protection Policy (LPP) in Jamaica as the country continues to deal with the aftermath of Hurricane Melissa. The storm left thousands of low income Jamaicans facing significant challenges in restarting their ... Read the full article
Jamaica gets additional $21.1m from CCRIF’s excess rainfall parametric policy for Melissa
7th November 2025
The government of Jamaica is set to receive a second payout of USD 21.1 million following the passage of Hurricane Melissa, which has triggered the Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company’s (CCRIF SPC) excess rainfall parametric insurance policy. On October 31st, 2025, the CCRIF SPC announced a record payout ... Read the full article
Jamaica to receive record $70.8m CCRIF parametric payout for Hurricane Melissa
3rd November 2025
The government of Jamaica is set to receive a record payout of USD 70.8 million (J$11.4 billion) following the passage of Hurricane Melissa, under the Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company (CCRIF SPC) parametric insurance model. This marks the largest single payout in CCRIF’s history. It is subject to ... Read the full article
Parametric risk pools secure €4.7m grant to enhance climate resilience collaboration
16th April 2025
Four Regional Risk Pools have signed a joint grant agreement with the Global Shield Solutions Platform (GSSP) for €4.7 million to put shared commitments into action. Signed by the African Risk Capacity Limited (ARC Ltd.), CCRIF SPC (the Catastrophe Risk Insurance Facility of the Caribbean and Central America), the Pacific Catastrophe ... Read the full article
CCRIF’s parametric insurance delivers record $85m in payouts after Hurricane Beryl
10th December 2024
The CCRIF issued a total of US$85 million in record time to governments and non-sovereign policyholders in the Caribbean impacted by Hurricane Beryl, marking the largest payout in the organisation's history, and underscoring its growing role in disaster risk financing across the region, Conor Meenan from the Centre for Disaster ... Read the full article
Honduras receives CCRIF payout of $4.7m following excessive rainfall event
9th December 2024
Excessive rains have triggered a payout of $4.665 million from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) within two weeks for The Government of Honduras. The event took place from 14th to 19th of November, significantly impacting roads and cutting off several communities. Honduras joined the CCRIF in 2024, purchasing parametric insurance ... Read the full article
Hurricane Beryl triggers all CCRIF parametric policies for Grenada
11th July 2024
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) will make payouts totalling around US$44 million to the Government of Grenada following the passage of Hurricane Beryl, which triggered all of the company’s parametric policies for the country. Hurricane Beryl devastated 90% of all buildings – the airport, marinas, gas stations, the hospital ... Read the full article
CCRIF collaborates with The UWI to reduce the impacts of wildfires in Barbados
10th October 2023
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has announced that it is collaborating with The University of the West Indies (The UWI) in an effort to reduce the impacts of wildfires on the people, communities, and the economy of Barbados. According to the announcement, CCRIF has provided a grant of approximately US$25,000 ... Read the full article
CCRIF members renew parametric insurance policies, GRENLEC joins
6th September 2023
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has announced that its members renewed their parametric insurance policies at June 1, while GRENLEC, Grenada’s electric utility company, also purchased coverage for the first time. According to CCRIF, June 1 2023 marked 16 years since Caribbean governments began purchasing CCRIF parametric insurance coverage ... Read the full article
CCRIF receives $4.7m from EU to subsidise parametric insurance program
3rd July 2023
The European Union has provided $4.7 million to members of the Caribbean Catastrophe Risk Insurance Facility (CCRIF) to subsidise its 2023 parametric insurance program. Provided through a programme administered by the World Bank, the EU funds enabled CCRIF to provide discounts of approximately 14% on the gross premium of members’ tropical ... Read the full article
CCRIF grant to strengthen rain warning system for Belize
27th October 2021
CCRIF has provided another grant to the Government of Belize of $43,140 to further enhance its early warning systems for extreme rainfall events. Since 2017, CCRIF has been supporting Belize to purchase and install automatic weather stations with grants totalling $143,000. The first grant of US$100,000 in 2017, facilitated the purchase of ... Read the full article
CCRIF Nicaragua payouts total $30.6m following cyclones Iota, Eta
9th December 2020
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has made payouts totalling $30.6 million to the government of Nicaragua following the passage of tropical cyclones Iota and Eta. Both storms made landfall as category 4 hurricanes along the Nicaraguan coast within two weeks of each other in November. Hurricane Iota was the last ... Read the full article
CCRIF payout to Nicaraguan government totals $10.7mn
25th November 2020
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) is due to make a payout of $10.7 million to the Government of Nicaragua following the aftermath of Tropical Cyclone Eta. CCRIF has made an advance payment of $3.7 million to the Government of Nicaragua, with the remainder to be paid by November 19, ... Read the full article
CCRIF launches parametric product for electric utilities
6th October 2020
The Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company (CCRIF SPC) has announced the launch of its newest parametric insurance product, developed for the electric utility sector in the Caribbean. The electric utilities product aims to limit the financial impact of tropical cyclones by providing financial liquidity to electric utility companies ... Read the full article
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