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Damage estimate $17m for Barbados

11/2/2010

Early calculations of the Caribbean Catastrophe Risk Insurance Facility (CCRIF) have indicated damages to Barbados from Tropical Storm Tomas to be around 1.5 per cent of its Gross Domestic Product.

Under the disaster pooling facilities insurance scheme, this island can therefore expect a payout of US$8.5 million from the CCRIF due to the destruction sustained during the passing of the weather system last weekend.

In addition, the facility has outlined preliminary calculations indicating that St. Lucia will receive US $3.2 million and St. Vincent and the Grenadines US$1.1 million.

While the model indicated

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