CCRIF Says TS Bertha Triggered No Payouts to Members

August 14, 2014

The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has issued a bulletin, which notes that Tropical Storm Bertha’s passage east of the southern Lesser Antilles did not produce any losses for CCRIF members, according to its loss calculation protocol.

The announcement explained that under CCRIF’s “Multi-Peril Risk Estimation System (MPRES) a report is required for any tropical cyclone affecting at least one of the 16 member countries with winds of greater than 39 mph.

“Tropical Cyclone Bertha qualified as a reportable event with three countries experiencing at least Tropical Storm force winds.

“Based on the MPRES footprint, the CCRIF member countries affected by at least Tropical Storm force winds from Bertha were Dominica, Turks and Caicos Islands and the Bahamas.

“In Dominica, hundreds of people were left without power in the island’s eastern region. There was no reported significant damage in Turks and Caicos or the Bahamas.

The CCRIF said the reports, as corroborated by preliminary runs of the CCRIF loss model, “did not generate government losses in the affected countries and therefore no payout is due.”

Source: Caribbean Catastrophe Risk Insurance Facility (CCRIF)

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