JOURNAL ARTICLE

Hurricane Beryl Triggers Record Payout for Caribbean Insurer.

  • Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Wyss, Jim 3 of 3

Abstract

Hurricane Beryl's recent impact on the Caribbean has resulted in a record $44 million payout to Grenada from the Caribbean Catastrophe Risk Insurance Facility (CCRIF). Grenada will receive $42 million for cyclone insurance, $1.1 million for fisheries insurance, and $549,000 for excess rainfall related to Beryl. This payout surpasses CCRIF's previous largest payout of $40 million to Haiti after the 2021 earthquake. Other countries, including St. Vincent and the Grenadines, Trinidad and Tobago, and Jamaica, also received payouts. Beryl, the earliest Category 5 storm on record, caused significant damage in the Windward Islands, with two of Grenada's outer islands being particularly affected. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/07, pN.PAG
  • Document Type:Article
  • Subject Area:Geography and Cartography
  • Publication Date:2024
  • Accession Number:178356301
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