Grand Cayman, Cayman Islands, July 29, 2021. Following Tropical Cyclone Elsa, CCRIF made two payouts to the Government of Barbados under the country’s tropical cyclone and excess rainfall parametric insurance policies, totalling US$2.5 million. CCRIF also made payments totalling US$528,512 to three other member governments – Haiti, Saint Lucia, and St. Vincent and the Grenadines – under the Aggregate Deductible Cover (ADC) feature of CCRIF’s tropical cyclone policies. Hurricane Elsa was the fifth tropical cyclone in the 2021 Atlantic Hurricane Season.
Since the inception of CCRIF in 2007, the Facility has made 52 payouts totalling US$202.5 million to 16 of its 23 members, with the Government of Haiti receiving 4 payouts totalling US$38.3 million and the Government of Barbados receiving 7 payouts totalling US$21.8 million. These two countries have received about 30 per cent of CCRIF’s total payouts.
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