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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.

Keywords

  • Themes:Insurance & Risk Transfer, Recovery
  • Hazards:Cyclone, Earthquake
  • Countries/Regions:Anguilla, Antigua and Barbuda, Bahamas, Barbados, Belize, Bermuda, Cayman Islands, Dominica, Grenada, Haiti, Jamaica, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Trinidad and Tobago, Turks and Caicos Islands

  • Short URL:http://preventionweb.net/go/32389

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