Help

BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

International

With no prospects of payouts Bahamas did not renew catastrophe risk policy: Official

June 23, 2017 Reprints

Michael Halkitis, Bahamas' former minister of state for finance, said that the previous government had ceased annual premium payments to Cayman Islands-based Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Co. because there was no likelihood of receiving a payout, Tribune 242 reported. The Bahamas would only have received compensation in the event of a category five hurricane, while hurricane Matthew was a category three or four storm, Mr. Halkitis said. The present government has alleged that the country missed out on a $32 million payout due to the previous government failing to renew the risk insurance policy.

Help

With no prospects of payouts Bahamas did not renew catastrophe risk policy: Official

Readers Poll

Most Read in International

Sign up now for free access to this article and much more.

If you are already registered with Business Insurance, click here to Login

Please tell us a bit more about yourself in order to continue

About

Advertise

Reprints and Licensing

Resources