Guatemala Receives Payout from CCRIF Following Excess Rainfall Event Associated with Tropical Cyclones Amanda and Cristobal. | SMN News

Grand Cayman, Cayman Islands:— CCRIF paid the Government of Guatemala approximately US$3.6 million under its excess rainfall (XSR) parametric insurance policy for nine days of rain that occurred during Tropical Storms Amanda and Cristobal. The policy was triggered by rains that started on May 31.

Amanda, which originated in the Pacific Ocean, initially made landfall on Guatemala’s Pacific coast on May 31, causing flooding and landslides. This tropical storm dissipated but the remnants reorganized to become Tropical Storm Cristobal, the third storm in the Atlantic Basin, on June 1 – a rare cross-over tropical cyclone with origins in the Pacific

To read more: http://www.smn-news.com/st-maarten-st-martin-news/34997-guatemala-receives-payout-from-ccrif-following-excess-rainfall-event-associated-with-tropical-cyclones-amanda-and-cristobal.html