Caribbean catastrophe risk insurance facility to pay nearly $16 million after hurricane Irma

Cayman Islands-based Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Co. will be making payouts for hurricane Irma of about $15.6 million to the governments of Antigua and Barbuda, Anguilla and St. Kitts and Nevis, Reliefweb reported. The hurricane triggered payments on these countries’ tropical cyclone policies. CCRIF SPC said that the payouts would be completed within 14 days after the event, as mandated by its operational guidelines.

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