Weather affected Trinidad and Tobago receives US $2.4 million from CCRIF

Segregated portfolio company CCRIF is owned and being operated in the Caribbean region

The Government of Trinidad and Tobago received an amount of US$2.4 million from Caribbean Catastrophe Risk Insurance Facility. This amount had been paid to recover from the situation posed by the bad weather condition from August 18 to August 20.

The recovery amount was given by CCRIF as the bad weather conditions affected Trinidad and Tobago due to Inter-Tropical Convergence Zone. This resulted in heavy rain and due to which the roads are badly flooded in Trinidad and Tobago. Southern and western Trinidad has been affected by many landslides.

Segregated portfolio company CCRIF is owned and being operated in the Caribbean region. It helps the nations islands and communities financially those are affected by earthquakes, catastrophic hurricanes and heavy rainfall.

The Government bought 2 various policies of CCRIF as the excess rainfall affected both Trinidad and Tobago. As being 2 different risk profiles of the different islands. The US$2.4 million payouts were made on the heavy rainfall policy for Trinidad.

Trinidad and Tobago had purchased these policies in the past 2017. From 2017 the country had received US$12.5 million as a total five payout of 5 different rainfall policies. The Government also had covered for tropical cyclones – another policy for Trinidad and one for Tobago ­– and for earthquakes.

For periods of heavy rain between October 18 and October 20 in 2017 and 2018, respectively, the Government received US$9.5 million from the CCRIF.

These two payouts would be used for general clean-up, which includes clearing of debris, obtaining building stocks and devices of households those were affected by the rain, giving payment to relief assistants, and for repairs to the Uriah Butler Highway (the Caroni section of highway), which was damaged by the 2018 rains.

The CCRIF made its largest payout to date, earlier this month, to Haiti, which received US$40 million after the devastating 7.2 earthquakes that struck that country on August 14.

Jacob Smith

Recent Posts

Guyana: Ramada Hotel closes down due to fire damage

The Ramada Hotel in Guyana announces its closure “until further notice due to the extensive… Read More

1 hour ago

PNM releases list of National Youth Awards 2023 winners

PNM of Trinidad and Tobago shared the list of the winners of National Youth Awards. Read More

1 hour ago

Dianna John set to contest for Miss Wob Dwiyet 2023

Commonwealth of Dominica Division of Culture introduced Dianna John as the contestant for Miss Wob… Read More

5 hours ago

Bahamas: Cabinet Minister Obediah Wilchcombe passes away

The Bahamas lost much-loved Cabinet Minister Obediah Wilchcombe at the age of 65. Read More

6 hours ago

Merlika Modeste makes history as Sea Spray Cruises’ first female captain in Saint Lucia

Saint Lucia Hospitality & Tourism Association – SLHTA felt delighted while announcing its outstanding team… Read More

23 hours ago

Kerryne James, Tevin Andrews visit Limlair Solar Field, assess progress

Ministers expressed their utmost satisfaction with the work at the site of Limlair Solar Field… Read More

23 hours ago

This website uses cookies.