CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) will be making payouts totalling approximately US$15.6 million (EC$42 million) to the Governments of Antigua & Barbuda, Anguilla and St. Kitts & Nevis as a result of the passage of Hurricane Irma which triggered payments on these countries’ Tropical Cyclone policies. Preliminary calculations of the payouts for each country are:
| Antigua & Barbuda | US$ 6,794,875 | EC$ 18,346,163 |
| Anguilla | US$ 6,529,100 | EC$ 17,628,570 |
| St. Kitts & Nevis | US$ 2,294,603 | EC$ 6,195,428 |
| Total | US$ 15,618,578 | EC$ 42,170,161 |
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.
Anguilla and St. Kitts & Nevis also have Excess Rainfall (XSR) policies and CCRIF is assessing if these policies were triggered by the rains from Hurricane Irma, which may possibly result in a second payout under those policies. The assessment under the XSR policies will be determined in the next few days.
