The CCRIF SPC (formerly known as the Caribbean Catastrophe Risk Insurance Facility) has seen its members renew their parametric insurance policies for the 2024/2025 policy year, with 10% more in parametric coverage purchased, while also making its first payout of 2024, $6.4 million for Guatemala after heavy rainfall.
As we reported early yesterday, the CCRIF is currently on-watch for payouts from hurricane Beryl, which we were told are likely to be made, with some of Grenada and St. Vincent & the Grenadines likely to receive parametric payouts and Jamaica also potentially in line for one.
The CCRIF said that it is “actively monitoring Tropical Cyclone Beryl, which is affecting several of our members in the Caribbean.”
FULL ORIGINAL PUBLICATION HERE
