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![]() Haiti - Politic : The CCRIF will pay more than $20 to Haiti 12/10/2016 11:42:08
This payment will be Haiti’s second payment from CCRIF. Recall that in 2010, following the devastating earthquake, CCRIF made a payment to the Government of Haiti of US$7.7 million, based on the terms of its Earthquake Policy. That payment represented the first inflow of direct financial assistance received by Haiti at that time. The Haitian government used the CCRIF funds to cover salaries of key emergency personnel, thereby “keeping the wheels of government turning.” Learn more about this type of insurance : CCRIF’s parametric insurance products are insurance contracts that make payments based on the intensity of an event (for example, hurricane wind speed, earthquake intensity or volume of rainfall) and the amount of loss calculated in a pre-agreed model caused by these events. Parametric insurance enables payouts to be made very quickly after a hazard event. This is different from traditional insurance settlements that require an on-the-ground assessment of individual losses after an event before a payment can be made. HL/ HaitiLibre
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