CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) announced today that for the second year in a row, Trinidad & Tobago has received a payout on its Excess Rainfall policy following a period of heavy rainfall in October.
The Government received a payout of US$2,534,550 (approximately TT$17 million) due to heavy rains between October 18 and 20 2018.
Trinidad & Tobago has been a member of CCRIF since 2007 and has purchased CCRIF policies for tropical cyclones and earthquakes every year since then.
The Association of Trinidad and Tobago Insurance Companies (ATTIC) is extending sympathies to the many victims of this week’s floods and says it stand ready to do its part to assist our nation.
ATTIC says that while the full extent of property and motor losses are still being assessed, it wants to extend the following advice to insured persons:
· If more than half of your vehicles was submerged in flood water, please do not attempt to start the vehicles. Have it inspected as soon as possible by your authorised repairer.
The Association of Trinidad and Tobago Insurance Companies (ATTIC) is giving advice to persons whose property sustained damage by Tuesday's powerful earthquake.
ATTIC says losses sustained within 72 hours of the event, which includes aftershocks, will be treated as one.
The following is a statement ATTIC issued on Thursday.