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Country Affected

Payouts (US$)

Earthquake, 29 November 2007




Saint Lucia


Tropical Cyclone Ike, September 2008

Turks and Caicos Islands


Earthquake, 12 January 2010



Tropical Cyclone Earl, August 2010



Tropical Cyclone Tomas, October 2010




Saint Lucia


St Vincent & the Grenadines


Tropical Cyclone Gonzalo, October 2014

Anguilla - Excess Rainfall Policy 493,465

Trough System, 7-8 November 2014


Anguilla 559,249
St. Kitts & Nevis 1,055,408

Trough System, 21 November 2014

Barbados 1,284,882

Tropical Storm Erika, 27 August 2015

Dominica - Excess Rainfall policy 2,402,153

Earthquake, June 9, 2016

Nicaragua 500,000

Tropical Cyclone Earl, August 2016

Belize - Excess Rainfall policy 261,073

Tropical Cyclone Matthew, September 2016


Barbados 975,000
Barbadoss - Excess Rainfall policy 753,277
Saint Lucia - Excess Rainfall policy 3,781,788
St. Vincent & the Grenadines - Excess Rainfall policy 285,349

Tropical Cyclone Matthew, October 2016


Haiti 20,388,067
Haiti - Excess Rainfall policy 3,020,767

Tropical Cyclone Otto, November 2016

Nicaragua 1,110,193

Tropical Cyclone Irma, September 2017


St. Kitts and Nevis 2,294,603
Anguilla 6,529,100
Anguilla - Excess Rainfall policy 158,823
Antigua & Barbuda 6,794,875
Turks & Caicos Islands 13,631,865

Turks & Caicos Islands - Excess Rainfall policy

The Bahamas - Excess Rainfall policy 163,598

Tropical Cyclone Maria, September 2017


Dominica 19,294,800
Dominica - Excess Rainfall policy 1,054,022
Saint Lucia - Excess Rainfall policy 671,013
Turks & Caicos islands 419,372
Barbados - Excess Rainfall policy 1,917,506
St. Vincent & the Grenadines - Excess Rainfall policy 247,257

Rainfall event, October 18-20 2017

Trinidad & Tobago - Excess Rainfall 7,007,886
Tropical Storm Kirk, October 2018
Barbados - Excess Rainfall 5,813,299

Rainfall event, October 18-20 2018
Trinidad & Tobago - Excess Rainfall 2,534,550
Tropical Cyclone Dorian, September 2019 Bahamas - Tropical Cyclone 11,527,151
Bahamas - Excess Rainfall 1,297,002

Tropical Cyclone Karen, October 2019
Trinidad & Tobago - Excess Rainfall 362,982

Tropical Cyclone Amanda/Cristobal, May/June 2020
Belize - Excess Rainfall 203,136

Tropical Cyclone Amanda/Cristobal, May/June 2020
Guatemala - Excess Rainfall 3,628,013

Tropical Cyclone Laura, August 2020
Haiti - Excess Rainfall 7,163,958

Rainfall event August 31 - September 2 2020
Trinidad & Tobago - Excess Rainfall 176,146

Total for the period June 2007 - September 2020



Total for Tropical Cyclone


Total for Earthquake


Total for Excess Rainfall

Total for TC/EQ ADC   2,077,615


Payments Under the TC/EQ Aggregated Deductible Cover (ADC)

Event Country Payments (US$)

Tropical Cyclone Irma, September 2017


Haiti 162,000
Bahamas 234,000

Tropical Cyclone Maria, September 2017


Saint Lucia 123,750
Anguilla 29,250
Antigua & Barbuda 32,400
St. Kitts & Nevis 27,150
Earthquake, October 7, 2018 Haiti 91,438
Tropical Cyclone Dorian, August 2019 Barbados 123,500
British Virgin Islands 47,500
St. Kitts and Nevis 32,168
Saint Lucia 130,625
St. Vincent and Grenadines 17,613
Tropical Cyclone Isaias, August 2020 Haiti 290,925
Bahamas South East 27,443
Bahamas Central 8,603
Bahamas North West 270,900
Tropical Cyclone Laura, August 2020 Antigua & Barbuda 70,257
St. Kitts and Nevis 32,168
Haiti 290,925
Tropical Cyclone Nana, September 2020 Belize 35,000
Total ADC   2,077,615
TC ADC   1,986,177
EQ ADC   91,438

The Aggregate Deductible Cover (ADC)


What is the ADC?

The ADC is a special feature of CCRIF’s tropical cyclone (TC) and earthquake (EQ) parametric insurance policies. The ADC was designed to potentially provide a payment for TC and EQ events that are objectively not sufficient to trigger the country’s main policy because the modelled loss is below the policy attachment point (which is similar to a deductible). The ADC also helps to address the issue of  basis risk which is an inherent feature of parametric insurance in which some hazard events are missed by the models underpinning the policies. In this case, the ADC is able to reduce the probability of a missed payment when there may be losses on the ground but the country’s parametric insurance policy is not triggered. 

When was the ADC Launched?

In 2017, CCRIF launched the ADC feature for its tropical cyclone and earthquake policies, which it provided at no cost to members to commemorate the Facility’s 10th anniversary. Since the launch of this feature, CCRIF has continued to provide it to members at no cost except for one policy year when members were offered a 50 per cent discount on the cost of the feature.

Have there been any payouts under the ADC?

Since 2017, CCRIF has made 20 ADC payments totalling over US$2 million to 10 of its members. CCRIF SPC members receiving ADC paymentsPayments were made following Tropical Cyclones Irma and Maria in 2017, Dorian in 2019 and Isaias, Laura and Nana in 2020 – as well as an earthquake in Haiti in October 2018. In many cases the ADC payments associated with tropical cyclones were in addition to payouts on countries’ Excess Rainfall (XSR) policies, which were triggered by rains associated with those events. Like all CCRIF payouts, ADC payments are made within 14 days of the event.

How are ADC payments calculated?

An ADC payment is made if the modelled loss is between 50% and 99% of the attachment point OR if it is between 10% and 49% of the attachment point and a Disaster Alert from the ReliefWeb website is issued for the event for that country.

What is the maximum payout a country can receive under the ADC?

The maximum ADC payment a country can receive after an event is the net premium paid for the TC or EQ policy by that country.