July 2007
Risk management: Facility speeds Caribbean relief
June marks the beginning of the hurricane season in the Caribbean, and every year there’s a chance that any given island will suffer devastating losses to infrastructure, property and life.
Hurricane insurance is expensive, and so Caricom, the grouping of Caribbean nations, has collective insurance for the islands as one of its highest priorities.
But there’s another problem with hurricane insurance: calculating losses can take months, and money for rebuilding often doesn’t arrive until the year after the hurricane hits. But emergency funds are most desperately needed in the weeks and months immediately after the disaster.
Parametric
Hence the Caribbean Catastrophe Risk Insurance Facility (CCRIF). It’s parametric, which means that the payout is linked not...
This is archived content. Your current settings does not currently allow access to the archive. To gain access visit the subscription page or call our hotline on +44 (0)207 779 8999.
If you are a trialist or subscriber, please enter your username and password at the top right-hand side of euromoney.com
Subscribers to Euromoney benefit from:
Level 1:
- Online access to the past 12 months content
- Tailored RSS news feeds direct to your desktop
- News delivered directly to your mobile device or PC
- Personalised email newsfeed of 'Top stories' and 'Breaking news'
Level 2:
- Exclusive access to euromoney.com - Read the latest issue early online, search for specific developments by region or sector, interrogate the results of Euromoney's benchmark polls, and view the archive dating back to 2000
- 12 monthly issues of Euromoney magazine
- More than 30 specialist research guides free
- The results of Euromoney’s polls and surveys
- Tailored RSS news feeds direct to your desktop
- News delivered directly to your mobile device or PC
- Personalised email newsfeed of 'Top stories' and 'Breaking news'
Click here to subscribe