World Bank CAT DDO pays out $20m for La Soufrière volcanic eruption
The Governments of Saint Vincent and the Grenadines have received $20 million in disaster risk financing support from the World Bank to aid their recovery from the recent eruption of the La Soufrière volcano, after a catastrophe contingent line of credit was triggered. The eruption of the La Soufrière volcano on Saint Vincent has triggered […]
CCRIF targets further expansion of scope and risk transfer product range
The CCRIF SPC (formerly known as the Caribbean Catastrophe Risk Insurance Facility), a parametric focused risk pooling and transfer facility for the Caribbean and Central America, is targeting further expansion in terms of its scope, as well as in terms of the range of risk transfer products it offers and to whom. The CCRIF began […]
First volcanic eruption cat bond issued for the Danish Red Cross
The very first catastrophe bond covering pure volcanic eruption risk has now been completed, with a $3 million privately placed issuance brought to market by Replexus and Howden Capital Markets and backed by leading cat bond investors for the Danish Red Cross. The catastrophe bond covers the risk of eruption of 10 volcanoes across three […]
