CCRIF SPC, the regional parametric risk pool for the Caribbean and Central America has announced that it has expanded its coverage to US $1.8 billion for the current policy year, a 14.5% increase from the $1.57 billion the organisation reported in early June, showcasing that demand for parametric coverage significantly outpaced expectations.
This total also represents a 25% increase from last year’s $1.44 billion, driven by gains seen across both the Caribbean and Central America portfolios.
According to CCRIF, this expansion reflects growing protection across sovereigns, water & electric utilities and fisheries.
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