Grand Cayman, Cayman Islands:--- . CCRIF SPC made a payout of approximately US$7.2 million to the Government of Haiti on its Excess Rainfall (XSR) parametric insurance policy following three days of heavy rainfall associated with Tropical Cyclone Laura. Haiti also received a payout of US$290,925 under the Aggregate Deductible Cover (ADC), which is a special feature of CCRIF’s Tropical Cyclone (TC) and Earthquake (EQ) policies, which may be activated to provide a minimum payout for TC and EQ events that are objectively not sufficient to trigger the main policy because the modelled loss is below the attachment point.
The approximate
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