The devastating effects of Hurricane Ivan in the summer of 2004, when it crossed the Caribbean Sea causing major damage in Grenada, Jamaica and the Cayman Islands, produced one good thing. The Caribbean Community and Common Market (CARICOM) heads of …
Standard & Poor’s Ratings Services has assigned its preliminary ‘B-‘ credit rating to the class II-CN3 notes series 2010-1 issued under the principal at-risk variable-rate note program, Successor X Ltd. Swiss Re (A+/Stable/A-1) sponsors the program, which “aims to transfer …
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) and the United Nations Economic Commission for Latin America and the Caribbean (UNECLAC) announced that they will sign a Memorandum of Understanding (MOU) formalizing “a partnership to facilitate capacity building and to develop …
Caribbean Risk Managers Ltd. (CaribRM), in partnership with the Development Bank of Jamaica (DBJ), has been selected as one of 20 finalists at the Marketplace on Innovative Financial Solutions for Development competition to be held in Paris from 4 to …
Haiti’s private insurance market is very small but its government did provide a level of insurance coverage to its citizens by participating in a regional risk sharing pool. “Haiti is the poorest country in the Western Hemisphere and poor countries …
An article on the Lloyd’s of London web site (www.lloyds.com) discusses the success of an “innovative solution” which can make funding available to governments in the aftermath of a natural disaster. Disasters such as earthquakes and hurricanes “can have a …
People who lived through Hurricane Ivan can’t forget the haunting images left by one of the strongest storms ever recorded: condo towers collapsed in roiling surf, splintered homes or flat slabs, fragments of highways lost in a sea of sand. …
One year after Hurricane Ike devastated large swaths of the upper Texas Gulf Coast, the state has unveiled a plan estimated at $135.4 million that aims to fight beach erosion in a coordinated effort from South Padre Island to McFaddin …
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) and the Caribbean Disaster Emergency Response Agency (CDERA) have signed a Memorandum of Understanding (MOU) formalizing a partnership to facilitate capacity building and to develop strategies for mitigating the physical and socio-economic impacts …
Robert E. Beloten has been named chairman of the New York Workers’ Compensation Board. He replaces Zachary Weiss, who announced his resignation last month. Beloten was named to the board in May after having been a workers’ compensation judge from …
