European Union provides US$4.7 million to Caribbean Governments for CCRIF Parametric Insurance for 2023, totalling about US$49 Million in Grant Support since 2007. | SMN NEWS

Grand Cayman, Cayman Islands, July 3, 2023.
The European Union continues to provide support to CCRIF SPC as a means of subsidizing premiums on the parametric insurance policies of its Caribbean members. This policy year, which started on June 1, 2023, the EU provided CCRIF with US$4.7 million in support of the 12 ODA-eligible Caribbean members of CCRIF1 to subsidize premiums for tropical cyclone and excess rainfall. CCRIF’s parametric insurance helps countries to financially protect their economies from devastating natural disasters such as hurricanes and excess rainfall.
Provided through a …

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