The CCRIF SPC (formerly known as the Caribbean Catastrophic Risk Insurance Facility), has made a US $2.4 million payout to Trinidad & Tobago after the Caribbean nations parametric excess rainfall insurance policy was triggered recently.
Including this latest payout, the CCRIF’s parametric disaster insurance policies have now paid out 54 times, amounting to $245 million paid out to 16 of its 23 members, with all payouts made within 14 days of the event occurring.
The Government of Trinidad and Tobago has received this latest payout after a heavy rainfall event that occurred during August 18-20, 2021 triggered its excess rainfall policies parametrics.
FULL ORIGINAL PUBLICATION HERE
