natural catastrophes

Jamaica to Get 2nd Parametric Insurance Payout for Excess Rainfall From Storm Melissa

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The Caribbean parametric insurer, CCRIF SPC, announced it will make a second payout of US$21.1 million to the government of Jamaica – a policy triggered by excess rainfall from Hurricane Melissa. This payout follows the CCRIF’s first record payment of US$70.8 million to Jamaica to cover damages from Hurricane Melissa triggered by modeled losses from … Read more

KCC Estimates Privately Insured Losses From Hurricane Melissa Will Hit $2.4 Billion

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Catastrophe modeler KCC estimated that privately insured losses from Hurricane Melissa will be $2.4 billion. This figure is at the top end of another estimate – between $2.2 billion and $4.2 billion – provided earlier this week by data analytics firm Verisk. Cotality, the property intelligence company (formerly known as CoreLogic), also has provided an … Read more