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Jamaica’s tropical cyclone policy triggered by hurricane

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Alternative risk transfer

Nigel Clarke, minister of finance of Jamaica, said that Hurricane Beryl triggered the country’s tropical cyclone parametric insurance policy with the Caribbean Catastrophe Risk Insurance Facility, with a payment amount of $16.3 million, Reinsurance News reported. It is unknown if the country’s excess rainfall parametric insurance from the CCRIF was also triggered.

 

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