The Government of Panama has received a US$26.7 million payout from CCRIF SPC, a regional parametric insurance provider, following an extreme rainfall event that occurred from Oct. 31 to Nov. 4. According to a news release, the rainfall caused severe flooding, landslides, infrastructure damage, and crop loss, affecting 1,500 people and claiming 11 lives. CCRIF’s rapid disbursement was made within 14 days of the event.
