St. Kitts and Nevis and, Antigua and Barbuda and Anguilla will receive a total of EC$42 million in insurance payouts as a result of the damage suffered from Hurricane Irma.
The much needed financial support for the nations will be provided from a payout by the Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company (CCRIF SPC).
These nations will receive the payouts as “a result of the passage of Hurricane Irma, which triggered payments on these countries’ Tropical Cyclone policies,” the CCRIF SPC have said.
Discussions are currently taking place with the governments of the three countries “about making arrangements for transfer of these payouts, which will be completed within 14 days after the event – as mandated by CCRIF’s operational guidelines.”
Preliminary figures show that St. Kitts and Nevis will receive approximately EC$6.1 million.
Anguilla will receive approximately EC$17.6 million, with the remaining EC$18.4 going to Antigua and Barbuda.
All calculations will be verified and confirmed by CRIF SPC prior to payment being made.
Whilst St. Kitts and Nevis did not see the same level of catastrophic effects the storm had on some of its neighbours in the region, the federation sustained damage to numerous homes, electricity poles and resulting electrical outages.
An assessment issuing conducted to evaluate the level of damage in the coastal zones.