Review of ECLAC damage and loss assessments in the Caribbean

The objective of this study is to determine whether the assessments carried out by the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) on the impact of disasters over the past decade accurately captured the extent of the damage experienced by Caribbean states. 

The study also seeks to determine the extent to which recovery efforts have closed the damage and loss gaps estimated by ECLAC. The study was undertaken at the request of the Caribbean Catastrophic Risk Insurance Facility (CCRIF), with the expectation that the results would inform any required adjustments to the premium payments calculations conducted by CCRIF and would make recommendations to regional governments regarding insurance packages and premiums.

The approach to the study involved extensive literature review of damage assessment methodologies, comparing their results with the outcome of ECLAC’s damage and loss methodology when applied to several natural events in the Caribbean.