The Caribbean Catastrophe Risk Insurance Facility (CCRIF)

CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) is a not-for-profit, multi-country, multi-peril risk pool and the world's leading development insurer. Established in 2007 following the devastation of Hurricane Ivan on the Caribbean, CCRIF was the first regional parametric insurance facility of its kind - created to give Caribbean governments rapid access to liquidity after natural disasters. Today it serves 40 member governments, public utilities and organizations across the Caribbean and Central America, offering parametric insurance policies for tropical cyclones, earthquakes, excess rainfall, fluvial flood, and sector-specific risks including fisheries, water utilities, and electric utilities, all underpinned by state-of-the-art proprietary models. As a development insurer, CCRIF's mandate is not to maximize profit but to protect its members' development gains: it delivers rapid liquidity within 14 days of a triggering event and reinvests its surpluses in the regions it serves, keeping premiums cost-effective, developing new products to close the protection gap, funding technical assistance, and investing in young people through scholarships and internships. Since inception, CCRIF has made 82 payouts totalling approximately US$483 million, helping governments and utilities stabilize budgets, maintain