For the safety of Caribbean holidays countries in the region renew hurricane hurricane and earthquake coverage
In order to better prepare the region's inhabitants as well as look after the safety of prospective visitors, all members of the Caribbean Catastrophe Risk Insurance Facility have renewed their hurricane and earthquake policies for the 2010/2011 season.
All sixteen members of the Caribbean Catastrophe Risk Insurance Facility (CCRIF) have renewed their policies for hurricane and earthquake coverage for the 2010/11 year beginning on 1 June – the start of the hurricane season.
The National Oceanic and Atmospheric Administration forecast estimates an 85% chance of an above normal hurricane season this year. This could have serious implications for Caribbean islands and potential losses, especially given the poor economic conditions still affecting the region. This therefore makes the need for CCRIF even stronger.
For 2010/2011, policy pricing was again reduced as part of CCRIF’s planned strategy to minimise premium costs to its participating countries. Another change to the new policies is that they are now based on CCRIF’s second generation model which represents the levels of hurricane and earthquake risks faced in the Caribbean region at higher resolution than the initial model.
For example, the hurricane model now explicitly includes losses due to storm surge. Completion of the new modelling platform will also enable CCRIF to more easily develop and implement additional products beyond hurricane and earthquake coverage, for example the excess rainfall product, which is expected to be available by year-end.
These two factors contributed to some changes in coverage characteristics selected by governments and also led to a general increase in coverage limits for the 2010/11 policies. Most countries maintained premiums at the same level as last year.
As a result of increased appreciation of seismic risk following the Haiti earthquake in January, twelve countries increased their coverage limit for earthquakes.
In recognition of the exceptional fiscal challenges which the region continues to face this year due to the global economic crisis, CCRIF explored a number of channels to ease the premium burden on participants.
This included internal mechanisms as well as engagement with the donor community. A number of countries were able to take advantage of these channels, and CCRIF will continue to pursue opportunities for providing assistance and attracting funding to build disaster resilience within its member governments and the broader Caribbean region.
Recognising that current policies provide a cost-effective solution for just one part of the larger comprehensive disaster management process, CCRIF continues to develop partnerships throughout the region and around the world to assist in better understanding and implementing a broad range of disaster risk management tools to support sustainable development in the face of growing natural catastrophe risk.
Talk to a specialist
Call 020 7644 1770 to speak with our award-winning travel consultants.
Opening hours 09:00 - 20:00 GMT
Popular Holidays In Caribbean and Costa Rica Browse all
Be Live Collection Punta Cana offers Pristine white beaches, swaying palms and a pulsating Latin vibe
Head to where the sun shines and enjoy a week-long holiday by the sparkling turquoise beaches of Punta Cana. Here you'll find endless fun for all the family as well as plenty of relaxing options for adults.
- 24-Hour All-Inclusive Service
- Enjoy unlimited access to a white soda beach that's perfect for snorkelling
- World class facilities for all the family plus children stay for half the price
Stay at the luxurious Dreams resort with various benefits including a room upgrade to make your holiday extra special
- Huge Savings when staying in Preferred Club rooms or suites
- Enjoy moonlit themed parties, great music shows and outdoor cinema screenings on the beach
- A wide choice of a la carte themed restaurants and chic bars ensure there is something to suit everyone
- The Explorer's Kids Club has a fully supervised children's programme with various different activities
Enjoy a wide range of added values, fun activities or relax and lie under the sun on exclusive private beach area in Varadero
- Never waste a minute of your holiday and enjoy all fun activities from waters sports to golf lessons at Breezes Bella Costa
- Experience Varadero to the fullest with fantastic options for couples, families or singles as there is something to suit everyone
- Memories Miramar Hotel has a fantastic location and is only a 5-minute walk from the nearest beach
The unlimited heaven of tranquility in a perfect setting
- Well located in the heart of Havana's historic Old town, close to Central Park and minutes away from the National Theatre, the Capitol and Hemingway's favourite bar, the Floridita
- Iberostar Parque Central is a great base to discover all this unique city has to offer
- Activities throughout the day at Iberostar Varadero such as erobics, archery, basketball, beach volleyball, football, kayaking and much more.
Varadero is a showpiece of Cuba's natural beauty; stunning white beaches, turquoise waters and clusters of lofty palm...
If you're searching for the perfect combination of beach fun and natural discovery, look no further. Home to ancient...
Get the best of Havana and Varadero with this fabulous combination of city and beach in two of Cuba's finest hotels, the...
Escape to the pristine beaches of the south coast of Barbados for a holiday you will never forget. This is the perfect...
An intimate collection of One Bedroom Apartments located in the heart of the West Coast of Barbados. Halcyon Palm offers...
Beyond its sober elegance of Mudejar roots and the presence of round arches and red clay tile roof, it is known for its...