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Caribbean Business Journal - Business and Travel News

Caribbean Business Journal, a business magazine serving the Caribbean Community Around the World, Small Business Success, Travel, Economic News, Management, Finance, Diversity News, Events
 
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Catastrophe Risk Models Show Haitian Quake Presages Future Caribbean Disasters
The magnitude 7.0 earthquake that struck Haiti on Jan. 12 is less of an insurance event for some of the same reasons that it is more of a human catastrophe, Insurance & Technology reported on Jan. 21.

Haiti's relative poverty limits both the amount of property insured and influences the prevailing standard of construction, not to mention the scarcity of resources needed for responding to a mass emergency. The Insurance Information Institute (III) reported that total annual property and casualty premium in Haiti is about $20 million, about half of which is for auto insurance.

A recent III statement compared the Haitian quake to the May 2008 earthquake that hit China's Sichuan province, which killed 88,449 people and caused over $125 billion in economic damage, of which only $366 million were insured losses, according to Swiss Re figures cited by the III.
OTHER NEWS  
Tourism Ministers and UK officials to discuss implications of increased air passenger tax
President Confirms Support For Tabasco In Wake Of Floods
Government borrows EC$10 million to pay civil servants
Record cruise arrivals boost second-quarter figures
USTDA Supports Aviation Development in Haiti
It is Time to Reflect on Our Future: FCH
United States Hispanic Chamber of Commerce Announces Next Generation of Leadership
Trinidad FM To Speak at Barbados’s Democratic Labour Party Convention
Japan and CARICOM Set to Talk Climate Change
LIAT Officials Are Positive About Night Landing Facilities
New Additions Are Sworn Into Antigua’s Electoral Commission
Presidential Hopeful Wyclef Jean Wants to Change Haitian Constitution
Credit Union Delegates To Meet in St. Lucia
Caribbean Civil Society Organizations Scheduled to Discuss EU Funding
Cayman Islands and American Banking Regulators Reach An Accord
HIGHLIGHTS  
Around the Region

Caribbean Community (CARICOM) Chairman, Honourable Roosevelt Skerrit, Prime Minister of Dominica is confident that the forging of “a new ...

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Caribbean Spotlight

In the mind of Monique Hamaty-Simmonds, there is a strong bond between her business,...

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Management

Before you begin looking for financing, you should be prepared with a business plan that builds a strong case as to why someone should finance your business.

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Global Outsourcing

Outsourcing of manufacturing processes provides many US-based women and minority companies with highly competitive operational ...

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SPECIALS FEATURES  
U.S. Coast Guard Sends Back Over 300 Haitians

The U.S. Coast Guard announced on Aug. 2 that it had sent back 323 Haitians after their overcrowded boats were stopped in Bahamian waters.

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World Bank to Disburse US$55 Million to Help Haiti Meet Urgent Financing for Reconstruction

The World Bank announced today that it will disburse US$55 million to Haiti which will help the Caribbean nation address some of its most urgent financing needs...

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Cayman Shines in Singapore

Cayman’s Youth Olympic team got off to a good start in Singapore on Sunday (15 August) with swimmer Lara Butler managing a personal best in the woman’s 100m backstroke.

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Unity and Action, Demands in the Fight Against Crime : FCH

President Felipe Calderón declared that now is the time to implement agreements between the three orders and branches of government and society in general regarding crimefighting.

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