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Benfield Makes Placement For Caribbean Governments

The program for the multicountry disaster facility includes a combination of traditional excess of loss reinsurance and a funded cat swap derivative agreement. This will cover parametric insurance pol

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London-based broker Benfield announced today it has completed the placement of a risk transfer program for the Caribbean Catastrophe Risk Insurance Facility (CCRIF), which became operational today.

The program for the multicountry disaster facility includes a combination of traditional excess of loss reinsurance and a funded cat swap derivative agreement. This will cover parametric insurance policies issued by the facility to 16 Caribbean governments.

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