CCRIF SPC,the former Caribbean Catastrophe Risk Insurance Facility, has announced it will be making payouts of about $15.6 million to Caribbean Islands that have been devastated by hurricane Irma – just half the sum of the payouts made last year after hurricane Matthew.
The governments of Antigua & Barbuda and Anguilla will each receive about $7.5 million, St. Kitts & Nevis will be given about $2.3 million, according to preliminary calculations.
CCRIF CEO, Isaac Anthony, said; “The CCRIF Board and Team offer condolences for the loss of life and hope these funds will provide some assistance.
“We stand ready to support the government and people of these CCRIF countries as they recover from the effects of this devastating hurricane.”
The CCRIF Board said it would soon convene to see if it can offer additional support to the areas affected by the hurricane.
Since CCRIF was founded in 2007, and has since made a total of $69 million in payouts for hurricanes, earthquakes and excess rainfall to 10 member governments.
After hurricane Matthew struck last year, the CCRIF paid out $29 million to four countries.
