August 28, 2018, BRIDGETOWN, Barbados – The Caribbean Development Bank (CDB) has approved a grant of USD3 million (mn) to cover Haiti’s 2018-2019 insurance premiums with CCRIF SPC—the company that provides parametric insurance coverage to the Caribbean and Latin America. The Bank’s funding will help the country meet the cost of the premiums for tropical cyclone, earthquake and excess rainfall coverage to which the Government of Haiti will contribute up to USD1.8 mn. CDB’s Director of Projects, Daniel Best said that among the Bank’s 19 Borrowing Member Countries, Haiti is one of the most vulnerable to natural hazards. A large percentage of the population of Haiti is exposed to multiple hazards, due to climate change, the rapid growth of unplanned settlements, and ecosystem degradation and decline. We are pleased that the Government of Haiti is collaborating with development partners like CDB to design and implement development projects that focus on reducing the country’s risk to natural hazards, and help it adapt to climate change In the event of a future disaster, however, Haiti’s parametric insurance contract under CCRIF SPC is designed to pay out quickly and reliably. “This type of insurance can play a unique role in tackling humanitarian emergencies by providing quick liquidity at a time when there is a dramatic reduction in Government revenue and, at the same time, a need for large government services expenditures,” Best added. Given the country’s fragility and high vulnerability to natural hazards, in its 2017-2021 Country Strategy for Haiti, CDB committed to continue paying the country’s annual CCRIF SPC premiums. Further, in the most recent negotiations for the replenishment of the Bank’s Special Development Fund, contributors agreed that there should be a continuation of the grant-supported programme of assistance for Haiti. Disaster risk reduction is among the main areas in which CDB will invest. In 2017, CDB approved a disaster risk reduction and climate adaptation initiative for Ile-à-Vache, an island off the south coast of the southern peninsula of Haiti, which suffered extensive damage from Hurricane Matthew. To date, Haiti has received four payouts: one after the 2010 earthquake (USD7.7 mn), two following Hurricane Matthew in October 2016 (USD20.39 mn under the tropical cyclone policy and USD3.02 mn under the excess rainfall policy), and USD162,000 in 2017 for Hurricane Irma. The latter was paid out under the Aggregated Deductible Cover, which provides a minimum payment for events that are objectively not sufficient to trigger a CCRIF SPC policy. Like our Facebook page below There are number of things you can do to stay safe during an earthquake. None of these include running. According to the University of the West Indies (UWI) Seismic Research Centre, On August 21st at 5:31 PM local time, an earthquake occurred West of Trinidad. It was located at 10.56°N and 62.80°W with a magnitude of 6.9 and depth of 86 km. It was felt widely in the Eastern Caribbean. Please note that this event has been reviewed by a Seismologist. It has been brought to our attention that most persons are not one hundred percent (100%) on what to do during an earthquake. So, We have taking the time to ensure that for the next earthquake, you know what you should do. What to do in an EarthquakeWithin Minutes of the earthquake passing, much information, pictures and videos went online. Some are decades old, and some very recent. So far, we at JSR Communications have yet to see anyone doing the right thing. If you are indoors during an earthquake Ensure you do the following if you are indoors during an earthquake:
If you are outdoors during an earthquake Ensure you do the following if you are outdoors during an earthquake:
If you are in a moving vehicle during an earthquake Ensure you do the following if you are in a moving vehicle during an earthquake:
If you are trapped under debris Ensure you do the following if you are trapped under debris during or after an earthquake:
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