Ministers and representatives from 18 Caribbean countries, together with the World Bank, met on February 26th, in Washington, D.C. for the Caribbean Catastrophe Risk Insurance Facility (CCRIF) Donor Pledging Conference.

As the first-ever multi-country catastrophe insurance pool, CCRIF will provide participating governments from the Caribbean region with immediate liquidity, if hit by a natual disaster such as a  hurricane or earthquake. By pooling their risks together, participant countries will save approximately 40% over individual premia.

CCRIF will serve as a pilot for possible extension or replication to other regions, such as the Pacific Basin, with small states running the same risk of being struck by natural disasters.

Keynote Speakers included: