CCRIF pays out to four coun­tries hit by Matthew

Jamaica Gleaner - - BUSINESS -

RE­GIONAL CATAS­TRO­PHE in­surer CCRIF has paid out US$29.2 mil­lion to four Car­ib­bean coun­tries bat­tered by Hur­ri­cane Matthew at the top of this month.

The largest pay­ments went to Haiti – around US$23.4 mil­lion of which US$3 mil­lion was for ex­ces­sive rain­fall – where at least 500 peo­ple were killed, while St Lu­cia col­lected a $3.78 mil­lion cheque on Wed­nes­day.

The other two re­cip­i­ents were Bar­ba­dos, US$1.73 mil­lion and St Vin­cent and the Gre­nadines, US$285,249.

“This cheque will be go­ing di­rectly to strength­en­ing and re­build­ing our agri­cul­ture sec­tor and to pay­ing for some of the costs that we have,” said Chas­tanet.

The CCRIF said that 31 in­di­vid­u­als in St Lu­cia re­ceived pay-outs to­talling US$102,000 on their Liveli­hood Pro­tec­tion Poli­cies as a re­sult of the hur­ri­cane.

The LPP pro­vides in­sur­ance cov­er­age to low­in­come per­sons such

as small farm­ers, day labour­ers, tourism work­ers, fish­ers af­fected by for ex­treme weather events such as rain­fall and wind, CCRIF said.

Since its in­cep­tion in 2007, CCRIF has made 21 pay­outs to 10 mem­ber gov­ern­ments to­talling al­most US$68 mil­lion. CCRIF chief ex­ec­u­tive of­fi­cer, Is­sac An­thony (left), presents a cheque to Prime Min­is­ter of St Lu­cia, Allen Chas­tanet, on Oc­to­ber 19, 2016.

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