Beryl payouts aid Tobago, Grenada, Saint Vincent, and Trinidad

The Natural Disaster Fund (NDF), managed by Global Parametrics (a CelsiusPro Group company), has provided risk capacity to support the renewal of a multi-peril, multi-layer programme of CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility).

Hurricane Beryl caused widespread damage across the Caribbean. Within weeks, the NDF released payouts exceeding USD 1.98 million to support businesses and communities in Tobago, Grenada, Saint Vincent, and Trinidad.

The renewal timely secured lines of reinsurance capacity for parametric risk transfer against earthquake, hurricane, excess rainfall, and public utilities catastrophe coverage that Central America and Caribbean governments members of CCRIF SPC purchase for the 2024 annual placement.

The NDF, a public-private partnership funded by UK and German entities, aims to foster climate and NatCat resilience for poor and vulnerable communities, sharing risks with Hannover Re.

The NDF has supported the CCRIF SPC program since 2021, renewing its participation annually. CCRIF SPC is the world's first regional fund using parametric insurance to provide short-term liquidity to Caribbean and Central American governments when a parametric insurance policy is triggered.

Visit the NDF website.