CelsiusPro Group and Corp-EFF Insurance Company Limited, Deepen Relationship by Widening Access to Parametric Hurricane Protection.
LONDON / ROSEAU, 30th July 2025
The Natural Disaster Fund (NDF), managed by the Global Parametrics team (a CelsiusPro Group company), has increased its risk capacity allocation to Corp-EFF Insurance Company Limited, providing USD 4.7m to expand the Flexible Hurricane Protection (FHP) programme for the 2025 Atlantic Basin Hurricane Season.
Launched in 2022 to enhance the resilience of local communities in Dominica and Grenada, the FHP programme provides micro, small, and medium-sized enterprises (MSMEs), cooperatives, households, fisherfolk and farmers including both Credit Union members and the wider public who may not be affiliated with any cooperative with parametric insurance protection to assist in recovery efforts following the impact of tropical storms and hurricanes.
The NDF Technical Assistance Facility (TAF), financed by the German Federal Ministry for Economic Cooperation and Development (BMZ), provided a catalytic grant to support the development and implementation of this innovative product, with funds contributing towards designing a simple, affordable, and personal coverage that would enable affected communities to bounce back faster following an impactful event. The Flexible Hurricane Protection product offers six plan options, from Tropical Storm to Category 5 hurricane coverage, with payouts triggered automatically based on verified storm data, eliminating the need for claims assessment.
The effectiveness of the FHP programme was demonstrated in the aftermath of Hurricane Beryl, the most powerful recorded hurricane to make landfall in Grenada’s history on 1st July 2024. A total pay-out of USD 1.45 million was triggered, with funds disbursed by Corp-EFF received by 40 policyholders within 15 days, including members of the Grenada Nutmeg Association. Amongst the policyholders was a small-scale poultry farmer who used the funds to pay his staff, replenish essential supplies and maintain egg production - receiving not only a financial lifeline but also business continuity that was vital to the swift recovery of his operation. In Dominica, policyholders were also covered during the 2024 season, reflecting growing uptake and trust in the product.
Under Corp-EFF’s leadership and vision, the FHP programme has grown consistently year-on-year. 66 policies were sold in 2022, increasing to 164 in 2024, achieved within a compressed 6-week sales window -testament to the demand and trust that Corp-EFF enjoys from its local networks in the Organisation of Eastern Caribbean States (OECS).
CelsiusPro Group and Corp-EFF have committed to scaling the FHP by embedding coverages within loans offered by credit unions and financial services providers to engage with thousands of vulnerable households and businesses over the coming years.
“We have been delighted to witness the growth of the FHP programme and observe the tangible contribution towards building resilience against tropical storms and hurricanes in the OECS. We look forward to the next phase of this partnership and collaborating to further integrate the FHP into the regional financial system.”
-Mark Rüegg, CEO CelsiusPro Group
“We're seeing the impact that's happening on the ground, and nothing sells better than when you've seen how others have been impacted by parametric protection. This speaks to the heart of the Caribbean problem, agriculture, social gaps, income gaps, and, of course, this is a disaster risk solution that really helps.
At Corp-EFF Insurance, we are committed to delivering protection with purpose, especially to those most exposed to climate risk. This strategic partnership reflects our long-standing belief that insurance must be simple by design to provide economic stability and dignity to the vulnerable communities we serve. We look forward to scaling this solution and redefining resilience in the Caribbean.”
-Phoenix Belfield, Chairman Corp-EFF Insurance Company Limited
The FHP programme is supported by the technical capabilities of Global Parametrics, a CelsiusPro Group company, whose climate models and parametric structuring capabilities underpin the risk analysis and pay-out logic. The initiative contributes to broader resilience goals under the United Nations Sustainable Development Goals (SDGs), particularly SDG 1 (No Poverty) and SDG 13 (Climate Action).
About the Natural Disaster Fund (NDF) - The Natural Disaster Fund, a public-private partnership between FCDO and KfW (on behalf of German BMZ) as well as Hannover Re, will provide a Technical Assistance grant funded by KfW. The grant will support Corp-EFF to establish a digital insurance platform in collaboration with CelsiusPro. This platform will allow Corp-EFF to onboard local insurance partners to the program which will ensure maximum outreach and operational efficiency for successful scaling. https://naturaldisasterfund.com/
About Corp-EFF Insurance Company Ltd - Corp-EFF Insurance provides specialized insurance products, including but not limited to Loan Protection, Life Savings, Family Bereavement, Mortgage Protection, and Parametric Hurricane Insurance, to Credit Unions in the Organisation of Eastern Caribbean States (OECS). As a value-driven organization, it integrates this ethos as a foundational principle in the crafting of its products, and in our daily interaction with its clients. Corp-EFF operates from its head office at 13 Castle Street, Roseau, Commonwealth of Dominica, in addition to interacting with clients through its agency offices in Dominica and Grenada. https://corpeffinsurance.com/
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Media contact:
Russell Hergert
CelsiusPro Group
russell.hergert@celsiuspro.com
CelsiusPro Group is dedicated to helping both private and public organisations understand and mitigate the financial impact of climate and NatCat risks. Our Insurtech platform integrates climate data and risk modelling to develop advanced solutions that enable insurance companies and brokers to distribute and manage tailored parametric insurance. Through our consulting services, we provide end-to-end insights on physical climate risk assessment, disaster risk finance, and structuring and risk modelling for insurance schemes. Our subsidiary, Global Parametrics, seeks to mobilise and deploy risk transfer capacity through various financial instruments and vehicles. With these integrated efforts, CelsiusPro Group advances parametric risk transfer from the fringes to centre stage in climate and NatCat protection. celsiuspro.com/
Global Parametrics, a company of the CelsiusPro Group, focuses on developing parametric risk transfer solutions that create a positive impact for vulnerable communities in countries prone to extreme weather and natural catastrophe risks. The company mobilizes risk capacity to underwrite parametric risk transfer through dedicated structures, which are backed by reinsurers with AA-ratings. The Global Parametrics team manages the Natural Disaster Fund (NDF), a public-private partnership with capital committed by the UK government's Foreign, Commonwealth and Development Office, and Germany's development bank KfW on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ). The NDF shares risk with Hannover Re. globalparametrics.com/