The Authorities of Panama has acquired a US$26.7 million payout from CCRIF SPC, a regional parametric insurance coverage supplier, following an excessive rainfall occasion that occurred from Oct. 31 to Nov. 4. Based on a information launch, the rainfall triggered extreme flooding, landslides, infrastructure injury, and crop loss, affecting 1,500 individuals and claiming 11 lives. CCRIF’s fast disbursement was made inside 14 days of the occasion.
