CCRIF to make $8mn rainfall payout

Haiti, Barbados, Saint Lucia and St Vincent and the Grenadines
are set to receive a total of $8mn in additional payouts from the
Caribbean Catastrophe Risk Insurance Facility (CCRIF) after
Hurricane Matthew triggered their excess rainfall policies.
The facility provides parametric insurance that triggers based on
measurements of a disaster's physical characteristics.
Last week the CCRIF said Haiti is due a payout of approximately
$20.4mn on its tropical cyclone policy following Matthew. The
rain