The Government of Honduras received a payout of US$4,665,090 within 14 days of an excess rainfall event that affected that country over the period November 14 to 19, 2024.
The Government of Honduras joined CCRIF in 2024, purchasing parametric insurance coverage for excess rainfall, effective June 1, 2024. On receipt of the payout, Minister of Finance Christian Duarte delivered the following statement, “Without a doubt, this type of instrument strengthens financial resilience and, compared to others, it provides us with the ability to respond
more immediately during the humanitarian assistance and rehabilitation phase of an emergency. Additionally, it enables us to reach our affected population promptly and effectively”.
In speaking to the payout, CCRIF CEO Mr. Isaac Anthony stated, “I am pleased that Honduras took the decision to join CCRIF and I look forward to continuing to engage with the Government as it accesses CCRIF parametric insurance as an effective means of closing the protection gap and strengthening the country’s public financial management framework.”
According to reports, the rainfall event in Honduras significantly impacted roads cutting off several communities and negatively impacting many people. Since its inception in 2007, CCRIF has made 78 payouts approximately US$390 million.