CCRIF Estimates $12.8 Million in Caribbean Losses from Tomas

Tuesday, November 2nd, 2010 — Whether Tomas passed through the eastern Caribbean as a hurricane or a tropical storm is rather irrelevant, as, whatever it was, it caused a lot of damage. The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has already issued a detailed report, estimating "government losses" in Barbados, Saint Lucia and St Vincent & the Grenadines will total around $12.8 million. The report noted that "Barbados endured the biggest actual loss (as it is a significantly bigger economy than the other two) as well as the biggest loss relative to GDP...