Grand Cayman, Cayman Islands, October 20, 2023. CCRIF SPC made two payouts totalling US$3.4 million to the governments of Antigua and Barbuda and the British Virgin Islands following Tropical Storm Philippe. Philippe made landfall on Antigua and Barbuda on October 2nd and passed near the British Virgin Islands on October 4th, causing heavy rains and flooding in both countries. CCRIF made payouts on these countries’ parametric insurance policies for Excess Rainfall as follows:
This event briefing describes the impact of rainfall in the British Virgin Islands, which was associated with a Covered Area Rainfall Event (CARE), starting on 4 October and ending on 6 October 2023.
The final runs of the CCRIF tropical cyclone loss model for wind and storm surge produced government losses for Antigua and Barbuda, Saint Kitts and Nevis, Sint Maarten , and Anguilla. However, the government losses for all four countries were below the Attachment Point of the respective countries’ Tropical Cyclone policy. Therefore, no payout under these policies are due.
This event briefing is designed to review the modelled losses due to wind and storm surge due to TC Philippe, calculated by CCRIF’s Public Utilities model. The Anguilla Electricity Company (ANGLEC) was the only utility with a CCRIF Public Utilities policy for which the CCRIF Public Utilities loss model reported wind speeds greater than 39 mph (62.7 km/h) due to Philippe.
This event briefing describes the impact of rainfall on Dominica, which was associated with a Covered Area Rainfall Event (CARE) on October 2 to 5, 2023. The Rainfall Index Loss (RIL) for the Covered Area Rainfall Event was below the attachment point of the Excess Rainfall policy of Dominica, and therefore no payout is due to the Government of Dominica.
This event briefing describes the impact of rainfall in Antigua and Barbuda, which was associated with a Covered Area Rainfall Event (CARE), starting on 3 October and ending on 4 October 2023.
This event briefing describes the impact of rainfall in Antigua and Barbuda, which was associated with a Covered Area Rainfall Event (CARE), starting on 3 October and ending on 4 October 2023.
October 9, 2023. Grand Cayman, Cayman Islands. CCRIF is collaborating with The University of the West Indies (The UWI) to reduce the impacts of wildfires on the people, communities, and the economy of Barbados.