GOVERNMENT HAS received more than $2.5 million as part of an insurance policy due to damage from rainfall.
And White Hill, St Andrew may well be one of the areas which benefit.
The pay-out was given by the CCRIF Segregated Portfolio Company (SPC), once known as the Caribbean Catastrophe Risk Insurance Facility, as part of its excess rainfall insurance policy which was triggered by rains from a trough system that occurred in the Eastern Caribbean on November 21 and 22. It took place today in the Cabinet conference room, Government Headquarters, St Michael.
Director of Finance and Economic Affairs, Martin Cox said White Hill was one of the impacted areas which could be considered.
“It seems the major area of impact was White Hill, where there was road damage and flooding . . . [but] the implications of that are being worked out by the Ministry of Transport and Works,” he said.
Director of the Department of Emergency Management, Judy Thomas said no specific area had been designated for help as yet but they had requests from some families as well as the Drainage Unit which would be considered if its existing budget was insufficient.
CCRIF SPC director Desiree Cherebin said they had three products designed to deal with tropical cyclones, earthquakes and now rainfall and eight of their sixteen island clients had signed on for the latter. She said their parametric insurance allowed pay-outs within 14 days without having to wait on time-consuming damage and loss assessments. (CA)
