Financial Services Experience

Delphos was engaged by the Caribbean Catastrophe Risk Insurance Facility (CCRIF) to conduct a feasibility study for the expansion of CCRIF within the offering of disaster risk insurances and other potential forms of financial support. Given the increased frequency and severity of natural hazards and the need for broader disaster risk financing solutions, CCRIF sought to evaluate the potential expanded role that it can play in closing the disaster risk financing gap. The focus of the engagement was to provide recommendations for (i) CCRIF’s potential expansion of its current insurance product offering through increased coverage levels with existing members and the inclusion of new members, (ii) the provision of new insurance products, and (iii) the offering of non-insurance financial products. The outcome of the engagement was complemented by describing key considerations for the implementation of the recommendations, including financing sources and innovative structures to support growth as well as the corresponding institutional requirements.