The Caribbean Catastrophe Risk Insurance Facility (CCRIF) Segregated Portfolio Company has announced that Barbados will receive a payout of more than US$5.8 million from its Excess Rainfall policy due to heavy rainfall that occurred during the passage of Tropical Storm Kirk.
Barbados has been a member of the insurance fund since its inception in 2007 and has received five previous payouts totalling US$13.5 million.
This payout will bring the total value of payouts to Barbados to US$19.3 million.
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