An unprecedented late season Hurricane Tomas has triggered an insurance payout of $12.8 million from the Caribbean Catastrophe Risk Insurance Facility (CCRIF), a multinational insurance pool developed by the World Bank.
Guy Carpenter reports that based on initial modeled losses, the CCRIF will pay out $8.5 million to Barbados, $3.2 million to St. Lucia and $1.1 million to St. Vincent and the Grenadines.
Tomas Ã¢â‚¬“ the 12th hurricane of the 2010 Atlantic hurricane season Ã¢â‚¬“ hit the islands in the eastern Caribbean as a Category 1 storm on October 30, causing significant damage and power outages in Barbados, St. Lucia and St. Vincent and the Grenadines.
Dr. Jeff MastersÃ¢â‚¬â„¢ Wunderblog notes that the intensification of late season Shary and Tomas into hurricanes brings the total number of hurricanes this season to 12, tying 2010 with 1969 and 1887 for second place for the most hurricanes in a season. The record is held by 2005 with 15 hurricanes.
The formation of Tomas so far south and east this late in the season is unprecedented in the historical record; no named storm has ever been present east of the Lesser Antilles (61.5Ã‚ °W) and south of 12Ã‚ °N latitude so late in the year.”
Tomas has now been downgraded to a tropical storm, but is likely to restrengthen by Tuesday, perhaps heading towards Haiti, according to the National Hurricane Center (NHC). If this happens, the 2010 seasonÃ‚ would seeÃ‚ a rare November hurricane.
Check out I.I.I. hurricane facts and stats.