The Government of Grenada has confirmed the renewal of the country’s annual parametric insurance coverage with the Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company (CCRIF SPC) for 2025/2026, for a total cost of roughly USD 1.828 million, plus applicable fees.
This renewal ensures the Caribbean country remains protected under the facility’s parametric policies for tropical cyclone, earthquake, excess rainfall, and coastal hazards.
Last year, following the impacts of Hurricane Beryl, Grenada received payouts totalling roughly USD 44 million as the storm triggered the tropical cyclone, excess rainfall, and coastal hazards parametric insurance policies.
This figure actually increased to USD 55.6 million after payouts were made to the Grenada Electricity Services Limited and the National Water and Sewerage Authority under their policies.
FULL ORIGINAL PUBLICATION HERE
