CCRIF pays $7.75m to Haiti

Haiti quake map

The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has paid out $7.75m to the Government of Haiti following the Magnitude 7.0 earthquake which struck close to Port-au-Prince on 12 January, causing damage of catastrophic proportions.

"This represents the full amount due to the country based on its catastrophe insurance policy for earthquakes for the 2009/10 policy year, and which forms part of the country’s disaster risk

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ABI insists fire safety scheme is temporary

Mervyn Skeet, the Association of British Insurers’ director of general insurance, has outlined how the trade body will ensure the Fire Safety Reinsurance Scheme will only last three to five years, and how it will should end criticism of brokers earning commission for arranging cover.

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