The Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company, known as CCRIF SPC, is a multi-country catastrophe insurance facility founded on June 1, 2007 and headquartered in the Cayman Islands, with membership drawn from CARICOM and Caribbean Development Bank countries. Billed as the world's first multi-country risk pool, it sells parametric insurance that pays out based on measured hazard severity, such as a hurricane's wind speed or an earthquake's shaking, rather than on a damage assessment, so member governments can receive funds quickly after a disaster.
Facts
Founding Year Founding Date Headquarters Classification
Institution SubtypeInternational Financial Institution 1 Geography
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Sources
1. Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company - Wikipedia
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Founded in 2007
Infobox, founded
2007 06 01
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headquartered in the Cayman Islands
Lead
Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company (CCRIF SPC) is an insurance company headquartered in the Cayman Islands.
Introduction, institution-subtype
The Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company, known as CCRIF SPC, is a multi-country catastrophe insurance facility founded on June 1, 2007 and headquartered in the Cayman Islands, with membership drawn from CARICOM and Caribbean Development Bank countries.
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