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Caribbean risk insurance facility to provide cover to energy firms

Cayman Islands power lines

Cayman Islands-based Caribbean Catastrophe Risk Insurance Facility S.P.C. plans to offer new insurance products for utility providers in the region to cover power transmission and distribution networks for hurricane damage, Jamaica Gleaner reported. Isaac Anthony, chief executive of CCRIF, said that the insurer is working with the Caribbean Electric Utility Services Corp. to set up a risk model that can also be used for the telecom and water sectors.

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