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Friday, November 17 2017 @ 10:41 PM AST

Trinidad & Tobago's safest places from hurricanes, earthquakes

Th nature of climate change is precisely that it is characterized by 'change'. However, based on historical data (see heat maps below), the safest places in Trinidad and Tobago to get away from hurricanes and earthquakes appear to be Icacos and Cedros. Disclaimer: The author is a journalist and neither a meteorologist nor a seismic expert. Study maps below to draw own conclusions.


SOURCE: Caribbean Catastrophe Risk Insurance Facility (CCRIF)


SOURCE: Caribbean Catastrophe Risk Insurance Facility (CCRIF)


SOURCE: Caribbean Catastrophe Risk Insurance Facility (CCRIF)


SOURCE: Caribbean Catastrophe Risk Insurance Facility (CCRIF)


SOURCE: Caribbean Catastrophe Risk Insurance Facility (CCRIF)


SOURCE: Caribbean Catastrophe Risk Insurance Facility (CCRIF)


SOURCE: Caribbean Catastrophe Risk Insurance Facility (CCRIF)


SOURCE: Caribbean Catastrophe Risk Insurance Facility (CCRIF)



CCRIF parametric rainfall policy pays out US$7 million to Trinidad & Tobago, the first pay out in the country's history: http://www.artemis.bm/blog/2017/10/31...=hootsuite
Trinidad & Tobago has insurance coverage with CCRIF for tropical cyclones (and therefore hurricanes too) and earthquakes.
Trinidad & Tobago has coverage for earthquakes up to "over US$90 million": CCRIF
Cayman Islands-based CCRIF collects about US$11 million per year for about 29 policies for 16 Caribbean Community (CARICOM) countries.



IMPORTANT UPDATE: After the above was published, the Ministry of Finance issued the following press release dated November 2, 2017:


PRESS RELEASE
GoRTT to receive funding from

Caribbean Catastrophe Risk Insurance Facility

The Ministry of Finance wishes to announce that, the Government of Trinidad and Tobago
is expected to receive a payout in the amount of US$7,007,886 (approximately TT$47.4
million) on its Excess Rainfall Policy from the Caribbean Catastrophe Risk Insurance
Facility SPC (CCRIF).

Trinidad & Tobago has been a member of CCRIF since 2007 and has purchased CCRIF
policies for Tropical Cyclone and Earthquake. However, over the past few years, Trinidad
& Tobago has been experiencing major flooding and loss of property and livelihoods due
to intensifying rainfall. Consequently, in 2017 the Government purchased a CCRIF policy
for Excess Rainfall (XSR) with coverage for Trinidad of US$15,793,290 and for Tobago
of US$2,126,360.

Due to the intense rainfall experienced in Trinidad over the period October 18 to October
20, 2017, which resulted in widespread flooding and loss of property, the CCRIF via a
Press Release on October 30, 2017 advised that the XSR policy for Trinidad was
triggered and CCRIF would make a payout of US$7,007,886 (TT$47.4 million). A model
based on the amount of excess rainfall is used by the CCRIF to estimate losses to the
country and the resulting payout.

The Government of Trinidad and Tobago, through the Ministry of Finance, has completed
and submitted the required forms to CCRIF and will be in receipt of the funds soon.
“The CCRIF SPC is a segregated portfolio company, owned, operated and registered in
the Caribbean.” This organisation provides contributing governments with short-term
liquidity when a parametric insurance policy is triggered in the event of earthquake,
hurricane and excess rainfall. This regional fund offers catastrophe coverage at the
lowest-possible pricing.


THIS IS WHAT THE RELEASE LOOKED LIKE:

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