Grenada and St. Lucia have become the first two regional countries to be issued with Caribbean Oceans and Aquaculture Sustainability Facility (COAST) fisheries parametric insurance policy.
COAST has been developed with the support of the US State Department, and has been led by the World Bank and the Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company (CCRIF).
CCRIF says the COAST insurance policies provide coverage for fisherfolk and other stakeholders in the fisheries industry to enable them to recover quickly after weather-related events.
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