Frequently Asked Questions

Corp-EFF Insurance Company Ltd. is a regional insurance provider based in Dominica that specializes in developing insurance solutions tailored primarily for Credit Unions and their members across the Eastern Caribbean.

Corp-EFF Insurance offers a range of protection products designed to support financial resilience, including: Loan Protection Insurance, Life Savings Insurance, Mortgage Protection Insurance, Family Bereavement Insurance, and Flexible Hurricane Protection (Parametric Insurance).

Many of our products are offered through participating Credit Unions, while others may also be accessed directly through approved distribution agents.

Yes. Corp-EFF Insurance operates under the regulatory framework of the Eastern Caribbean and complies with applicable financial services and insurance regulations.

Yes. The company works with partners and Credit Unions across the OECS region, including Dominica and Grenada, with plans for continued regional expansion.

You can contact our team by phone at +1 (767) 440-9052 / 440-9057, by email at info@corpeffinsurance.com, by visiting our office in Roseau, Dominica, visiting our Agent Office in Belmont, St. George's, Grenada, or contacting your participating Credit Union.

Flexible Hurricane Protection is a parametric hurricane insurance product that provides fast financial support when a hurricane or tropical storm reaches specified wind speeds within a defined geographic area.

Traditional insurance requires damage assessments and claims processing. Flexible Hurricane Protection is triggered automatically by verified storm data, allowing payouts to be processed much faster.

Payouts are triggered when verified wind speeds from an official storm system reach the agreed threshold within the defined zone of coverage.

Storm data is verified independently using internationally recognized meteorological sources and approved verification partners.

Once the trigger is confirmed, payouts are typically processed within approximately 15 days.

The payout is flexible and may be used to repair homes, restore livelihoods, replace damaged equipment, stabilize lost income, or cover emergency expenses.

The product is available to households, farmers, small businesses, and community groups.

No. Because this is a parametric insurance product, payouts are based solely on the storm trigger conditions, not individual damage assessments.

Flexible Hurricane Protection is typically available for purchase between March and May each year. Coverage then runs for a 12-month protection cycle from June through May of the following year, aligning with the Atlantic Hurricane Season. Purchasing during this period ensures protection is in place before the peak hurricane months.

Flexible Hurricane Protection activates only when verified wind speeds reach the agreed threshold within the defined coverage zone. If the storm does not meet the trigger conditions, the policy will not activate.

Caribbean communities often need fast financial support after hurricanes to begin recovery. Parametric insurance solutions like Flexible Hurricane Protection are designed to provide rapid financial assistance based on verified storm data rather than lengthy damage assessments.

Flexible Hurricane Protection is designed to complement traditional insurance, not replace it. Traditional insurance covers physical damage to specific assets, while Flexible Hurricane Protection provides rapid financial support to help households and businesses recover quickly after a major storm event.

Storm data used to determine triggers comes from internationally recognized meteorological agencies and independent verification partners, ensuring the process is objective and transparent.

Yes. Flexible Hurricane Protection can support farmers, small businesses, and self-employed individuals by providing funds quickly after a hurricane, helping them repair equipment, restart operations, or stabilize lost income.

Family Bereavement Insurance provides financial support to families in the event of the death of an insured family member.

The benefit may assist with funeral expenses, burial costs, and immediate family support.

Coverage may include the policyholder, a spouse or common-law partner, children under 25 years, and in-laws.

Once all required documentation is received and verified, benefits are typically processed within 48 hours.

Yes. Multiple plan levels are available - from Plan F ($3,500 benefit at $15/month) to Plan A ($15,000 benefit at $75/month) - allowing members to select coverage that aligns with their needs and affordability.

Loan Protection Insurance ensures that an outstanding loan balance is covered if the borrower passes away during the term of the loan.

The coverage protects both the borrower's family (who would not inherit the debt) and the Credit Union or lender.

The benefit is paid directly toward the outstanding loan balance.

In participating Credit Union lending programs, Loan Protection is automatically included as part of responsible lending practices.

Life Savings Insurance provides a benefit based on the savings balance of a Credit Union member.

The benefit is paid to the member's designated beneficiary upon the death of the insured member.

It helps ensure that families receive financial support in addition to the member's savings balance.

Mortgage Protection Insurance, also referred to as LP250, is an extension of the Loan Protection insurance facility. It ensures that the outstanding mortgage balance is covered if the borrower dies during the mortgage term.

The benefit is applied to the mortgage balance with the lending institution.

It ensures that a family can remain in their home without inheriting the mortgage debt.

Enrollment can be completed through participating Credit Unions or authorized agents, depending on the product.

Yes. Individuals may hold multiple policies depending on eligibility.

Requirements vary depending on the policy type. Standard identification and compliance documentation may also be required in accordance with Know Your Customer (KYC) regulations.

You may contact your Credit Union, Corp-EFF Insurance directly at info@corpeffinsurance.com, our authorized agents at grenadaleague@gmail.com, or our customer support team at +1 (767) 440-9052 / 440-9057.