Corp-EFF Insurance, in collaboration with the Grenada Cooperative League Limited, is pleased to announce the opening of the sales window for its Flexible Hurricane Protection (FHP) coverage.
The sales period will remain open until 31 May 2026.
The Flexible Hurricane Protection (FHP) product is designed to provide prompt financial support to policyholders, enabling faster recovery and continuity following qualifying storm events affecting the State of Grenada.
As a parametric insurance product, the FHP does not require policyholders to experience physical loss or damage to receive a payout. Instead, payments are triggered once competent authorities officially confirm that qualifying storm conditions have impacted the island. This innovative approach allows individuals and organisations to access critical funds quickly when they are needed most.
Policyholders are able to select coverage packages based on their individual needs and affordability.
Introduced to the Grenadian market in 2023 during the year of Hurricane Beryl, the FHP demonstrated its effectiveness by delivering payouts within 15 days to the GCNA and numerous private individuals who had purchased coverage. Total payouts amounted to EC$3.9 million.
Corp-EFF Insurance Company Limited assures the public that it is fully regulated by the Grenada Authority for the Regulation of Financial Institutions (GARFIN). The principal reinsurer for the FHP product is Hanover Re.
Corp-EFF Insurance is jointly owned by Nexa Credit Union, Ariza Credit Union, the Grenada Cooperative League Limited, and 4 credit unions, and the League in Dominica.
Coverage under the FHP is available to statutory bodies, companies, businesses, churches, and private individuals.
For more information, visit: www.corpeffinsurance.com; email: [email protected]; telephone: (473) 440-2903.
Corp-EFF Insurance
