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What is the strength of winds that cause a policy to trigger e.g. cat 1 etc?

This differs from one country to the next as it depends on the coverage purchased by individual countries.


In reference to Belize with Hurricane Richard of last year, was it due to the policy that they bought, that they did not get a payout from CCRIF?

Yes. Belize did not receive a payout after Hurricane Richard because the modelled losses fell just below the 30-year return period attachment point they had selected for their Hurricane policy. Although the CCRIF loss model generated a substantial government loss in Belize, this loss was below the country’s chosen trigger level so no payout was due. This situation therefore highlighted the role that the policy parameters play in determining the triggering of a payout. The parameters are in turn selections made by the governments in terms of the risk which they wish to transfer.


Will the CCRIF team be willing to meet with country stakeholder groups to discuss the CCRIF policies in more depth?

Yes. The CCRIF team is willing to meet with the various stakeholder groups in countries to discuss the policies in depth. Over the past couple of years significant effort has been made to build awareness of the Facility in terms of what it is, why it was established, who are its members and details regarding its policies and we therefore welcome greater interaction with countries in this regard.


With respect to the storms of last year and in particular Tomas, how did the model outputs compare to what occurred in reality?

The only way to really answer that question is to have very detailed measurements that could confirm what the CCRIF model came up with in terms of modelled wind estimates and so on. After Hurricane Tomas, CCRIF made 3 payouts to Barbados, Saint Lucia and St. Vincent & the Grenadines.


Are losses calculated primarily focused on the built environment? What is the level of significance given to the losses in the natural physical environment?

Losses calculated are primarily focused on the built environment. However, CCRIF has some damage functions for the main crops in countries where agriculture plays a big role and therefore adds to the overall loss. It is important to remember what the CCRIF insurance scheme is designed for: it is designed to help governments overcome a temporary squeeze on their finances immediately after a disaster.



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