Understanding CCRIF’s hurricane and earthquake policies

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.