The CCRIF SPC (formerly known as the Caribbean Catastrophic Risk Insurance Facility) made three payouts on parametric insurance policies to member governments from storms in the 2023 Atlantic hurricane season, taking the total it has paid out to almost US $266.8 million since its inception.
Three payouts totalling US $4.9 million were made for storms that occurred during the 2023 Atlantic hurricane season.
Previously, the CCRIF SPC had disclosed making roughly US $3.4 million in payouts to the governments of Antigua and Barbuda and the British Virgin Islands after tropical storm Philippe in early October triggered their parametric insurance policies for Excess Rainfall.
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