CCRIF Reveals T&T To Benefit From Funding Following Hurricane Beryl’s Impact On Tobago

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CCRIF Reveals T&T To Benefit From Funding Following Hurricane Beryl’s Impact On Tobago

The government of Trinidad and Tobago will receive US$372,752 for the impacts of Beryl on Tobago.

This is revealed by the Caribbean Catastrophe Risk Insurance Facility.

The Government of St. Vincent and the Grenadines will receive US$1.8 million.

Pay-outs will also be made to the government of Grenada totalling about US$44 million following the passage of Hurricane Beryl which totally devastated 90 per cent of all buildings – the airport, marinas, gas stations, the hospital and homes – on the islands of Carriacou and Petite Martinique.

It is a risk pooling facility with sixteen Caribbean members.

The facility is designed to limit the financial impact of catastrophic hurricanes and earthquakes to Caribbean governments by quickly providing short term insurance payouts when a policy is triggered.