Catastrophe Risks

CCRIF Makes First Two Payouts of 2023 Atlantic Hurricane Season

October 26, 2023

CCRIF SPC made its first payouts of the 2023 Atlantic hurricane season, with two payouts totaling $3.4 million to the governments of Antigua and Barbuda and the British Virgin Islands following Tropical Storm Phillipe. The storm caused heavy rain and flooding in both countries. Read More

Natural Catastrophe Losses Top Averages through First 3 Quarters

October 23, 2023

Insured losses resulting from natural disasters during the first 3 quarters of 2023 were estimated at more than $88 billion, with the number of billion-dollar natural catastrophes expected to set a record this year, according to a new report from Aon. Read More

US Has Seen 24 Weather and Climate Billion-Dollar Loss Events in 2023

October 17, 2023

The United States has experienced 24 confirmed weather/climate catastrophes, with losses exceeding $1 billion so far in 2023, according to the National Oceanic and Atmospheric Administration's (NOAA) National Centers for Environmental Information (NCEI). Two other events might reach that level when losses are fully calculated. Read More

CCRIF Collaboration Aims To Reduce Impact of Barbados Wildfires

October 12, 2023

CCRIF SPV is collaborating with the University of the West Indies (UWI) to reduce the impacts of wildfires on the people, communities, and economy of Barbados. This project is being implemented under a memorandum of understanding between UWI and CCRIF SPV that has been in place since 2010. Read More

Modeled Insured Annual Natural Catastrophe Loss Reaches New High

September 26, 2023

The global modeled average insured annual natural catastrophe loss has reached a new high of $133 billion, according to a new report from Verisk. In its 2023 Global Modeled Catastrophe Losses Report, Verisk suggested that an annual insured natural catastrophe loss topping $200 billion is plausible. Read More