• Covid-19
  • Travel Protocols
  • Immigration & Customs Form
Thursday, September 18, 2025
SKNIS
  • Home
  • About
  • Press Releases
  • Parliament
  • In The News
  • Bills
No Result
View All Result
SKNIS
No Result
View All Result
Home In The News

ST. KITTS AND NEVIS TO RECEIVE INSURANCE PAYOUT TO ASSIST WITH HURRICANE IRMA RELIEF EFFORTS

by
September 11, 2017
in In The News
ST. KITTS AND NEVIS TO RECEIVE INSURANCE PAYOUT TO ASSIST WITH HURRICANE IRMA RELIEF EFFORTS
Share on FacebookShare on Twitter

Basseterre, St. Kitts, September 11, 2017 (SKNIS): The recovery efforts in St. Kitts and Nevis following the passage of Hurricane Irma will receive much needed financial support from a payout by the Caribbean Catastrophe Risk Insurance Facility segregated portfolio company (CCRIF SPC).

 

Related posts

INDEPENDENCE CEREMONIAL PARADE INTRODUCES NEW FEATURES WITH EVENING START TIME

INDEPENDENCE CEREMONIAL PARADE INTRODUCES NEW FEATURES WITH EVENING START TIME

September 18, 2025
“Let Us Honour the Past by Securing the Future” Says Prime Minister Drew at National Heroes Day Ceremony

“Let Us Honour the Past by Securing the Future” Says Prime Minister Drew at National Heroes Day Ceremony

September 16, 2025

Information from the CCRIF SPC states that the company “will be making payouts totaling approximately US$ 15.6 million (EC$ 42 million) to the Governments of Antigua and Barbuda, Anguilla and St. Kitts and Nevis as a result of the passage of Hurricane Irma, which triggered payments on these countries’ Tropical Cyclone policies.”

 

Preliminary calculations show that St. Kitts and Nevis is set to receive around US$ 2,294,603 (EC$ 6,195,428) with the bulk of the remainder of the sum split between Anguilla and Antigua and Barbuda with US$ 6,529,100 (EC$ 17,628,570) and US$ 6,794,875 (EC$ 18,346,163) respectively. CCRIF SPC will verify the payout calculations and is currently “in discussion with the three governments about making arrangements for transfer of these payouts, which will be completed within 14 days after the event – as mandated by CCRIF’s operational guidelines.”

 

The CCRIF Board will meet shortly to determine additional support that it can offer countries affected.  St. Kitts and Nevis is one of sixteen countries that are currently members of the facility.

 

Although the federation was spared the worst of the storm’s fury, preliminary findings show that several homes sustained severe damage and a number of downed electricity poles resulted in power outages.  Prime Minister Dr. the Honourable Timothy Harris said an assessment is being conducted on the coastal zones to evaluate the extent of any damage and that the National Emergency Management Agency’s (NEMA’s) Damage Assessment and Needs Analysis Committee had been deployed.  Cabinet awaits the results of those findings.

 

The Caribbean Catastrophe Risk Insurance Facility was formed in 2007 as the first multi-country risk pool in the world. It was designed as a regional catastrophe fund for Caribbean governments to limit the financial impact of devastating hurricanes and earthquakes by quickly providing financial liquidity when a policy is triggered. In 2014, the facility was restructured into a segregated portfolio company to facilitate expansion into new products and geographic areas.

Previous Post

INDEPENDENCE CELEBRATIONS WILL CONTINUE DESPITE WEATHER DELAY, SAYS PRIME MINISTER HARRIS

Next Post

INDEPENDENCE ACTIVITIES DEMONSTRATE ONENESS OF ST. KITTS AND NEVIS

Next Post
INDEPENDENCE ACTIVITIES DEMONSTRATE ONENESS OF ST. KITTS AND NEVIS

INDEPENDENCE ACTIVITIES DEMONSTRATE ONENESS OF ST. KITTS AND NEVIS

WHAT'S HOT

INDEPENDENCE CEREMONIAL PARADE INTRODUCES NEW FEATURES WITH EVENING START TIME

INDEPENDENCE CEREMONIAL PARADE INTRODUCES NEW FEATURES WITH EVENING START TIME

September 18, 2025
NATIONAL ASSEMBLY MEETS ON THURSDAY, MARCH 18

Special Sustainability Zones Authorisation Act, 2025

September 18, 2025
SISA Lunch & Learn – Collective Action for Sustainable Development

SISA Lunch & Learn – Collective Action for Sustainable Development

September 17, 2025

BROWSE BY CATEGORIES

  • 2025
  • Attorney General, Ministry of Justice and Legal Affairs
  • Bills
  • Featured
  • Featured Ministry
  • Featured Top Left
  • Featured Top Right
  • Government Projects
  • Home Page Slider
  • In Focus
  • In The News
  • Interviews
  • Minister of Agriculture, Fisheries and Marine Resources; Cooperatives; Entrepreneurship and Creative Economy
  • Ministry of Education, Youth; Social Development; Gender Affairs; Aging and Disabilities
  • Ministry of Foreign Affairs, International Trade, Industry and Commerce and Consumer Affairs; Economic Development and Investment
  • Ministry of Health
  • Ministry of Public Infrastructure, Energy and Utilities; Domestic Transport; Information, Communication and Technology; and Posts
  • Ministry of Sustainable Development, Environment; Climate Action and Constituency Empowerment
  • Ministry of Tourism, Civil Aviation; International Transport; Employment and Labour; Urban Development
  • National Security
  • Notices
  • Parliament
  • PMO Press Releases
  • Post Cabinet Briefings
  • Press Conferences
  • Press Releases
  • Prime Ministers Office, Ministry of Finance; National Security; Citizenship and Immigration; Health and Social Security
  • Register of Voters
  • Round Table
  • Speeches 2025
  • The Cabinet Secretariat, Cabinet Secteatry
  • Uncategorized
  • Vacancies

LIKE US ON FACEBOOK

Facebook Pagelike Widget

LOCATION

St. Kitts Nevis Information Service
Government Headquarters
Chruch Street
Basseterre
St. Kitts
Tel:(869)467-1416

FOLLOW US

  • Government of St. Kitts & Nevis

© 2020 St. Kitts & Nevis Information Service. Developed by E-Government Unit

No Result
View All Result
  • Home

© 2020 St. Kitts & Nevis Information Service. Developed by E-Government Unit