A Discussion on Hurricane Resiliency With the President of the C.D.B.

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NASSAU, BAHAMAS – From 2017 there have been 5 Category 5 hurricanes in the Caribbean region, with names like Maria, Irma, Dorian, Beryl, and Melissa becoming legendary for leaving a trail of destruction – leading from deaths to physical and mental trauma, compounded by billions in loss and damage.

Our Denielle Miller had an exclusive sit down with the President of the Caribbean Development Bank (CDB), Daniel Best at last week’s 56th Annual Meeting of the Board of Governors, where he talked about this new reality facing the region.

Daniel Best – President, Caribbean Development Bank

“What was once a 100- year event is now one in every other year, and we can’t survive in that kind of catastrophic space unless we do something major.”

So, the CDB is taking action.

They became strong supporters of Caribbean Catastrophe Risk Insurance Facility (CCRIF), where they are specifically working with them to develop a parametric product focused on agricultural support and recovery.

Daniel Best – President, Caribbean Development Bank

“There’s two fold. One they can provide food for us, but two their citizens who now have no livelihoods. So being able to support the farming community with a type of parametric facility that is triggered in the event of an adverse weather impact over a certain threshold…is what we are doing right now with CCRIF.”

Best also acknowledges the CDB’s support in helping member countries cover catastrophic insurance premiums.

They are also in discussions with the insurance sector and governments, on providing better consumer access to insurance coverage.

Daniel Best – President, Caribbean Development Bank

“Post disaster period [is a] burden on our governments…extreme in many cases to those who are not insured. So how do we help persons be able to access insurance?”