FULL ORIGINAL PUBLICATION HERE Despite the fact a catastrophe bond for Jamaica has not yet come to market, after receiving support to pay premiums for the in-development first issuance the Caribbean island nation is already preparing to budget for its future renewal. Jamaica’s government has been working towards sponsoring its first catastrophe bond for at least […]

Caribbean earthquake could prompt CCRIF coverage assessment

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FULL ORIGINAL PUBLICATION HERE A powerful magnitude 7.7 earthquake struck the Caribbean yesterday in the afternoon local time, swaying buildings as far away as Miami, Florida and causing some localised damage to countries including the Cayman Islands, Jamaica and Cuba. There have been no immediate reports of casualties and damage in the region appears relatively […]

Jamaica cat bond & disaster insurance talks continue to advance

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FULL ORIGINAL PUBLICATION HERE The Jamaican government continues to discuss disaster risk financing instruments including catastrophe bonds with bilateral and multi-lateral partners and is developing a Public Financial Management Policy for Natural Disaster Risk. Jamaica has benefitted from a borrowing agreement with the IMF, but that expires later this year leaving a gap in the […]

India & Jamaica both in ILS related disaster risk financing talks

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FULL ORIGINAL PUBLICATION HERE Both India and Jamaica have been having discussions on disaster risk financing and risk transfer solutions, including ILS, with the World Bank and other international organisations, as the two countries look to put in place measures to ensure funding is quickly available when the most impactful natural disasters strike. It’s no […]

Cat bonds a key disaster insurance option for Jamaica: Minister

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FULL ORIGINAL PUBLICATION HERE In a recent speech, the Minister of Finance and the Public Service for Jamaica, Dr. Nigel Clarke, explained that the country needs better disaster risk financing structures in place, with catastrophe bonds cited as one option that may be suitable. Cat bonds have come up in government discussion in Jamaica a […]