Local News

St. Kitts and Nevis to receive insurance payout to assist with Hurricane Irma relief efforts

The recovery efforts in St. Kitts and Nevis following the passage of Hurricane Irma will receive much needed financial support from a payout by the Caribbean Catastrophe Risk Insurance Facility segregated portfolio company (CCRIF SPC).Information from the CCRIF SPC states that the company “will be making payouts totaling approximately US$ 15.6 million (EC$ 42 million) to the Governments of Antigua and Barbuda.

 Preliminary calculations show that St. Kitts and Nevis is set to receive around US$ 2,294,603 (EC$ 6,195,428) with the bulk of the remainder of the sum split between Anguilla and Antigua and Barbuda with US$ 6,529,100 (EC$ 17,628,570) and US$ 6,794,875 (EC$ 18,346,163) respectively. CCRIF SPC will verify the payout calculations and is currently.