CCRIF to pay out extra $8mn on Matthew

The Caribbean Catastrophe Risk Insurance Facility (CCRIF) will make
$8mn in additional payments to Haiti, Barbados, Saint Lucia and St
Vincent and the Grenadines 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
rainfall component brings