Trinidad and Tobago seeks payout from catastrophe insurance facility

10/23/2018 5:46:00 AM

Source: Business Insurance

Trinidad and Tobago has asked for insurance payout from Cayman Islands-based Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Co. following heavy rains and floods across the island, Trinidad Express reported. The country’s Ministry of Finance paid additional premiums to buy cover for excessive rainfall. The catastrophe insurance policy covers infrastructural damage, cost of clean-up and rescue operations and funding for disaster relief.