CCRIF SPC, the Cayman Islands-based parametric catastrophe facility, will pay approximately US$40 million to the government of Haiti, following the devastating magnitude 7.2 earthquake, which struck the Caribbean island on Aug. 14, significantly affecting the city of Les Cayes. This …
The large 7.2 magnitude earthquake, which hit Haiti on Aug. 14, is likely to cost insurers around $250 million, according to catastrophe modeling firm Karen Clark & Co. (KCC). While the insured losses from this event are estimated at $250 …
Flooding due to a storm overnight complicated efforts on Tuesday to seek survivors from a weekend earthquake in Haiti that killed more than 1,400 people and provide aid and relief to hundreds of thousands left struggling for food, water or …
Some of the world’s largest insurers are eagerly pitching cities, states and even school districts on policies designed to pay out quickly with few questions in the event of extreme weather. The catch: Even a hurricane might not be extreme …
It’s been five years since the ground shook violently in and around the overcrowded capital of Haiti, the Western Hemisphere’s poorest country, raising a cloud of dust over the smashed city and outlying towns. The devastating 7.0 magnitude earthquake struck …
The billions of dollars in aid that flowed into Haiti after its shattering earthquake were meant to build a new nation with thriving farms, apparel factories, modern hospitals and paved roads in the countryside. Ambitious plans call for $500 million …