Dominica gets maximum payout from CCRIF for flood damage
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The CCRIF SPC, formerly the Caribbean Catastrophe Risk Insurance Facility, has made a payment of EC$6.5 million (US$2.4 million), the maximum payable under the policy, to the government of Dominica under the Facility’s Excess Rainfall Programme, as a result of rains that occurred during Tropical Storm Erika on August 27, 2015.
CCRIF will also, following consultation with the government, provide additional financial assistance under its Technical Assistance Programme, for specific rebuilding projects.
“The CCRIF board and team wish to express our condolences to the people of Dominica for the loss of life and disruption of livelihoods and we offer our support as you implement your recovery and rehabilitation activities. We are hopeful that the funds received from CCRIF will provide immediate liquidity to address your most urgent needs,” CEO Isaac Anthony said.
This is the second payout that the government of Dominica will receive from CCRIF. In 2007, a payout was made under Dominica’s earthquake policy for a magnitude 7.4 earthquake that occurred in November of that year.
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