Sunday, September 10, 2017
Pledges of assistance have come in for countries across the region that were last week ravaged by Hurricane Irma.
The CCRIF, formerly the Caribbean Catastrophe Risk Insurance Facility; Scotiabank; the United Nations Development Programme; and the University of the West Indies have, in total, committed over US$16.4 million in relief efforts.
The CCRIF announced that it would pay out $US15.6 million (EC$42 million) to the governments of Antigua & Barbuda, Anguilla, and St Kitts & Nevis.
The CCRIF said the passage of the category five hurricane triggered the payments on the countries' Tropical Cyclone polices. The monies will be distributed accordingly to Antigua & Barbuda US$6,794,875; Anguilla US$ 6,529,100; St Kitts & Nevis US$ 2,294,603.
“CCRIF is verifying the payout calculations and is in discussion with the three governments about making arrangements for transfer of these payouts, which will be completed within 14 days after the event — as mandated by CCRIF's operational guidelines,” the organisation stated.
The CCRIF noted that it is accessing whether the Excess Rainfall (XSR) policies held by Anguilla and St Kitts and Nevis were also triggered by the rains from Hurricane Irma. This may result in a second payment to those countries under the policies. The assessment under the XSR policies will be determined in the next few days.
Meanwhile, Scotiabank has announced that it will donate US$500,000 to charitable organisations assisting with the rescue and relief efforts in the affected countries. more
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