Understanding CCRIF’s hurricane and earthquake policies

Source

Caribbean Catastrophe Risk Insurance Facility, the

Technical paper series no 1:

This paper explains the parametric insurance system of the Caribbean Catastrophe Risk Insurance Facility (CCRIF) in the event of a hurricane or an earthquake. The paper explains the differences between parametric insurance systems and indemnity-based systems, how payments are calculated, and the CCRIB catastrophe model. Additionally, the document provides an example scenario for assessing payouts and examples of past insurance payouts.

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Last checked: 18 December 2019

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Hazards Cyclone, Hurricane and Typhoon Earthquake

Themes Insurance and risk transfer Recovery Small Island Developing States (SIDS)

Country and region Antigua and Barbuda Bahamas Barbados Belize Dominica Grenada Haiti Jamaica Saint Kitts and Nevis Saint Lucia Saint Vincent and the Grenadines Trinidad and Tobago Anguilla Bermuda Cayman Islands Turks and Caicos Islands

Number of pages

8 p.

Publication year

2012

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