Economic Tools Mapping: Caribbean Catastrophe Risk Insurance Facility
The Caribbean presents a vulnerable combination of several very small states and a propensity to major natural catastrophes such as hurricanes. This combination spurred the creation of the world’s first multi-country risk pool. The Caribbean catastrophe risk insurance facility (CCRIF) helps governments limit the financial impact of catastrophe. The facility is supported by a technical assistance program. This note identifies the main elements that contribute to the project’s success.