Honduras has received a $4.665 million payout from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) after excessive rainfall from November 14th to 19th caused significant damage, including disrupted roads and isolated communities. The country joined the CCRIF in June 2024 and had purchased parametric insurance specifically for excess rainfall. Christian Duarte, Minister of Finance, praised the quick disbursement of funds following the adverse impacts related to Tropical Storm Sara, emphasizing its role in enhancing financial resilience and enabling rapid recovery efforts. CCRIF has made 78 payouts totaling approximately $390 million since its inception in 2007, with multiple Central American members receiving funds for rainfall-related incidents this policy year.
