Tropical Cyclone Eta Triggers CCRIF Payout of US$10.7 Million to Nicaragua | SMN NEWS

Grand Cayman, Cayman Islands:— CCRIF will make a payout of US$10.7 million to the Government of Nicaragua following the passage of Tropical Cyclone Eta. As is customary and part of the Facility’s customer proposition, all payouts are made within 14 days of the event. Indeed, CCRIF has already paid an advance of US$3.7 million to the Government of Nicaragua, with the remainder to be paid by November 19, following verification of the final model results.

Both the country’s tropical cyclone and excess rainfall parametric insurance policies were triggered due to TC Eta. Eta was the 29th and most ...

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