HAMILTON, Bermuda – Bermuda’s Premier Brown is in Trinidad participating in CARICOM’s Council for Finance and Planning meeting. Today’s agenda includes the CCRIF (Caribbean Catastrophe Risk Insurance Facility).
Premier Brown noted that “Bermuda contributed $1.5m to the fund when it was launched in 2007 and $1/2m annually since then.” The CCRIF was set up to ensure that the governments of its 16 members will have immediate access to liquidity if hit by a hurricane or earthquake.
The meeting began with an update on CARICOM’s work to assist Haiti in its reconstruction efforts. CARICOM’s initial decision was to focus mainly on health in Port-au-Prince as its contribution to the rebuilding of Haiti after the earthquake devastated the Caribbean nation in January.
The Premier returns to Bermuda on Wednesday. This is the fourteenth meeting of the Council.