CCRIF SPC Pays Out for 2023 Atlantic Storms

CCRIF SPC, a Caribbean insurance facility, has made significant payouts for the 2023 Atlantic storms, totaling $4.9 million to member governments affected by Tropical Storm Philippe and Tropical Cyclone Tammy. The payouts were for Excess Rainfall parametric insurance policies and benefited Antigua and Barbuda, British Virgin Islands, and St. Kitts and Nevis. CCRIF SPC has a long history of providing assistance in the Caribbean and Central America, with a total payout of $266,775,251 since its inception in 2007.