The UWI Regional Headquarters Jamaica. Thursday, August 27, 2020. CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) has committed over US$100,000 to The University of the West Indies (The UWI), towards student scholarships for the upcoming academic year. 

CCRIF will provide eight undergraduate scholarships and six postgraduate scholarships, totalling US$98,000. An additional US$11,000 will go towards scholarships for students enrolling in the CCRIF UWI course, Fundamentals of Disaster Risk Financing for Advancing Sustainable Development in SIDS at The UWI Open Campus.

Commenting on the scholarship initiative, CCRIF CEO, Mr. Isaac Anthony, himself a UWI alumnus stated, “Since 2010, CCRIF has been pledging support to The UWI for scholarships, recognising the need to increase the cadre of professionals working in disaster risk management and environmental sustainability as a means of advancing the development prospects of the region. The scholarship programme has been able to provide much needed financial resources to students for fees and accommodation, helping to alleviate financial burdens.  We are extremely happy to be associated with UWI Global Giving as this initiative is proactive and dynamic, supporting tertiary level education through partnerships and innovative financing mechanisms. We are especially pleased this year to provide support to 14 students as we all continue to grapple with the socioeconomic impacts of COVID-19 which have been severe and swift.” 

CCRIF is a longstanding provider of scholarships and internships, particularly for UWI students through its Technical Assistance Programme. The programme focuses on education in areas such as disaster risk management, environmental and/or natural resources management, climate studies, meteorology, geography and civil engineering among others. 

Since the CCRIF scholarship programmes were launched in 2010, the company has awarded 77 scholarships to Caribbean nationals totalling US$1.13 million. Its internship programme launched in 2015, gives young university graduates the opportunity to gain meaningful experience in areas of climate change adaptation, disaster risk management, meteorology, among others. Since then, the company has awarded internships to 103 Caribbean nationals with an investment of US$320,000. Many of these interns are placed regionally in various departments across The UWI.

Due to the COVID-19 pandemic, CCRIF has had to delay the start of its 2020 internship programme. Notwithstanding, the company partnered with The UWI Open Campus to deliver a free four-day course in disaster risk financing and parametric insurance for university students and recent graduates who would have normally applied for the internship programme. The course accommodated 80 participants over four weeks. CCRIF also delivered a five-day, train-the-trainer workshop for UWI lecturers who will deliver the course Fundamentals of Disaster Risk Financing for Advancing Sustainable Development in SIDS at The UWI Open Campus which launches in September 2020. These and other initiatives are part of a wider CCRIF-UWI MOU and funded work plan; the third such MOU was signed in February this year.

About CCRIF SPC 

CCRIF SPC is a segregated portfolio company, owned, operated and registered in the Caribbean. It limits the financial impact of catastrophic hurricanes, earthquakes and excess rainfall events to Caribbean and Central American governments by quickly providing short-term liquidity when a parametric insurance policy is triggered. It is the world’s first regional fund utilizing parametric insurance, giving member governments the unique opportunity to purchase catastrophe coverage with lowest-possible pricing. CCRIF SPC offers four parametric insurance products: for tropical cyclones, earthquakes, excess rainfall and the fisheries sector.

About UWI Global Giving

UWI Global Giving is a key fundraising initiative of The University of the West Indies (The UWI), aimed at raising awareness of the Caribbean region’s history and the role of education, as well as building a culture of philanthropy towards regional development. Throughout August, the crowdfunding campaign encourages persons to give small contributions to the University—as little as US$10 online via www.uwi.edu/giving. The collective proceeds will fund scholarships and bursaries for students in need as The UWI’s new academic year and classes are set to resume at the end of the month.