This event briefing describes the impact of rainfall on Honduras, which was associated with a Covered Area Rainfall Event (CARE) starting on 14 November 2024 and ending on 19 November 2024. The Rainfall Index Loss (RIL) for the Covered Area Rainfall Event was above the attachment point of Honduras’ Excess Rainfall (XSR) policy, therefore a payout of US$4,665,090.47 was made to the Government of Honduras.
Although the wind speed was above 39 mph in Belize, the final runs of the CCRIF tropical cyclone loss model for wind and storm surge have produced zero government losses for this country. For this reason, Tropical Cyclone Sara is considered a reportable event event1 for Belize.
This event briefing describes the impact of rainfall on Panama, which was associated with a Covered Area Rainfall Event (CARE) starting on 12 November 2024 and ending on 18 November 2024. The Rainfall Index Loss (RIL) for the Covered Area Rainfall Event was below the attachment point of Panama’s Excess Rainfall policy and the Panama-FAP Excess Rainfall policy, and therefore no payouts are due to the Government.
This event briefing describes the impact of rainfall on Grenada, which was associated with a Covered Area Rainfall Event (CARE) starting on 9 November 2024 and ending on 11 November 2024. The Rainfall Index Loss (RIL) for the Covered Area Rainfall Event was below the attachment point of Grenada’s Excess Rainfall policy, and therefore no payout is due to the Government.
The Aggregated Deductible Cover (ADC) 2 feature for the Tropical Cyclone policy for Belize has not been activated because the Modelled Losses are below 30% of the Attachment Point of the country’s Tropical Cyclone policy. Therefore, no payout under the ADC feature is due for the Government of Belize.
Between 8 and 9 November 2024, a tropical wave crossed the Lesser Antilles, moving into the eastern Caribbean Sea. A large cluster of thunderstorms was behind the wave and affected portions of the Lesser Antilles with heavy precipitation, in particular Grenada from the late hours of 8 November to the early hours of 9 November. During the next 2 days, residual instability fuelled scattered showers of moderate intensity over the region, prolonging the rainfall event over Grenada.
A magnitude 5.8 earthquake occurred at 19:30:18 (UTC) on 09 November 2024, located at 79.4 km (49.3 mi) NW of Burica, Chiriquí Province, Panama; 98 km (60.6 mi) N of Pedregal, Chiriquí Province, Panama and 101 km (62.8 mi) NNW of Puerto Arguelles, Chiriquí Province, Panama. Final estimates from the United States Geological Survey (USGS) located the epicentre of the event at 7.497°N, 82.396°W, and at a depth of 10 km (6.21 mi).
The final runs of the CCRIF tropical cyclone loss model for wind and storm surge have produced
government losses for Jamaica , the Cayman Islands and for the Cayman Turtle Conservation and Education Centre Ltd. (CTCEC), with CCRIF designating Tropical Cyclone Rafael as a Loss Event. The government losses for Jamaica the Cayman Islands and the CTCEC are below the Attachment Point of their Tropical Cyclone policies and therefore no payout under these policies is due.
This event briefing describes the impact of rainfall on Panama, which was associated with a Covered Area Rainfall Event (CARE) starting on 31 October 2024 and ending on 04 November 2024.
This event briefing describes the impact of rainfall on the British Virgin Islands, which was associated with a Covered Area Rainfall Event (CARE) starting on 01 November 2024 and ending on 03 November 2024. The Rainfall Index Loss (RIL) for the Covered Area Rainfall Event was below the attachment point of the British Virgin Islands’ Excess Rainfall policy, therefore no payout is due to the Government of the Virgin Islands.
