Caribbean Catastrophe Risk Insurance Facility payout surpasses $30 million
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Cayman Islands-based Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Co. said that it has made payouts of more than $30 million to six countries under their tropical cyclone and excess rainfall policies this hurricane season, Jamaica Observer reports. The facility has paid out more than $100 million since its inception in 2007 and has made payouts to 12 of its 17 member countries and all within 14 days of an event.
