CCRIF SPC, the Caribbean and Central America Parametric Insurance Facility and Development Insurer, is set to make its biggest single payout after after major hurricane Melissa triggered Jamaica’s tropical cyclone policy.
There could be more parametric risk transfer payout financing to come as well, as CCRIF said that the Government of Jamaica is expected to receive a second payout under its excess rainfall insurance policy as well.
The parametric excess rainfall assessment is still ongoing and these tend to take a few more days that determinations of trigger events for the CCRIF tropical cyclone coverage.
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