Jamaica will receive an additional $10.3 million USD, or approximately J$1.6 billion from the Caribbean Catastrophe Risk Insurance Facility (CCRIF).

This amount is in addition to the $16.3 million US, or JM $2.5 billion, that was triggered by the government’s Tropical Cyclone Policy with CCRIF.  

In an update, Finance Minister Dr. Nigel Clarke explained that he had received the final modelled loss and policy payment report from CCRIF. 

He said the report indicated that the governments excess rainfall policy with the CCRIF was also triggered and would result in the additional payment amount.

The CCRIF is the 4th layer in Jamaica’s multi-layered disaster risk financing framework.