Delivered December 3, 2019. Contributor: Pamela E.
To gain an understanding of the personal/home/auto insurance buyer in the Caribbean, specifically in Bahamas, Barbados, Belize, The Dominican Republic, Guyana, Haiti, and Jamaica.
Latin American and the Caribbean account for 8.6% of the world's population, but only 3.1% of global insurance premiums.
Hotel and resort owners in Caribbean countries are continuing to insure/reinsure their properties despite increases in insurance premiums of up to 50% since 2017.
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) is a multi-country risk pool/catastrophic fund and insurance instrument that uses parametric policies to help limit the financial impact of natural disasters, including hurricanes, in participating Caribbean countries.