The price an insurance company charges for coverage, based on the frequency and cost of potential accidents, theft and other losses. Prices vary from company to company, as with any product or service. Premiums also vary depending on the amount and type of coverage purchased.

The Livelihood Protection Policy (LPP) is targeted at all individuals and you are eligible regardless of your annual income or means of employment.  To buy, contact your Credit Union or call EC Global Insurance Agency at 451 3244 or 456 6270.  Click here to download the enrollment form.

High wind speed and high rainfall exposure are the covered events, as recorded in the location identified in your policy document. You do not need to identify any physical property to be insured.

No. The insurance payout does not relate to actual experienced loss, but is tied to the amount of rain or the wind speed in a given event. Therefore, no on-the-ground assessment of property at risk is conducted prior to accepting a new client or prior to a payout.

The LPP is available throughout the year.

The insurance payout is made on the basis of the weather data reported by the independent calculation agents. There might be an instance where you could have experienced some loss, but there was no triggered payout because the rain and/or wind thresholds were not exceeded.

St Lucia is divided into two zones: North & South.  The North Zone includes Gros Islet, Castries, Anse la Raye, Canaries and Dennery and the South Zone includes Soufriere, Choiseul, Laborie, Micoud and Vieux Fort.

Payout is based on the weather index (excess rainfall and high wind speed)  measured and reported in the two zones.

Each Zone has pre-defined thresholds, called trigger values, corresponding to different trigger levels and amount of payout (see tables below).

Once a trigger value is reached, the payout will be "triggered" automatically and be transferred to the client's bank account.

Independent calculation agents monitor the weather situation. High wind speed and rainfall are respectively monitored by the Caribbean Catastrophe Risk Insurance Facility (CCRIF) and DHI (formerly known as Danish Hydraulic Institute).

An early warning SMS will inform you of upcoming extreme weather events, allowing you to take appropriate precautionary measures to protect you, your family members and property.  Within 4 days of a triggered event, you will also receive an SMS on your mobile phone informing you that you will
receive a payout.

Yes, it is possible to buy insurance coverage for other persons.  You will need to submit a duly completed LPP enrollment form together with the premium payment to the local insurance company or an authorized distributor.