Barbados gets CCRIF payout
Article by July 30, 2021
Barbados’ ongoing recovery efforts following the passage of Hurricane Elsa earlier this month have received a multi-million-dollar boost.
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) on Thursday announced that it has made two payouts totalling US$2.5 million to the Barbados Government under the island’s tropical cyclone and excess rainfall parametric insurance facilities. It is CCRIF’s first payout for the 2021 Atlantic hurricane season.
The Mia Mottley administration is still assessing losses from the Category 1 storm which damaged over 2 000 homes and no price tag has yet been attached to the devastating impact of the system which included major roof loss and other damage to houses, downed poles and uprooted trees.
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