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New loan deal allows Honduras, Nicaragua to enter Caribbean cat risk insurance facility

July 3, 2014 - 6:00am


A $24 million loan has been approved by the World Bank that will allow Honduras and Nicaragua to be part of the Caribbean Catastrophe Risk Insurance Facility, reports Artemis.bm.

The two regions are very much exposed to losses related to hurricanes, earthquakes, floods and landslides, among others. The amount, to be equally divided for the two regions, will include seven years of premiums for Honduras and four years for Nicaragua, Artemis.bm reported.

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