Got TIPS or BREAKING NEWS? Please call 1-284-442-8000 direct/can also WhatsApp same number or Email ALL news to:newsvino@outlook.com;                               ads call 1-284-440-6666

VI receives $500K insurance payout for damages from TS Philippe

- $$ from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) is to assist in recovery efforts
A damaged road at Brewers Bay, Tortola due to Tropical Storm Philippe. Photo: Team of Reporters
Tropical Storm Philippe passed through the VI on Tuesday night October 3, 2023, into Wednesday morning, causing widespread damage to homes, businesses, infrastructure, and agriculture in the Territory. Photo: VINO/File/Team of Reporters
Tropical Storm Philippe passed through the VI on Tuesday night October 3, 2023, into Wednesday morning, causing widespread damage to homes, businesses, infrastructure, and agriculture in the Territory. Photo: VINO/File/Team of Reporters
Premier Dr the Hon Natalio D. Wheatley speaking on the payout said it ‘will enable us [VI] to address some of the most urgent needs of our people and restore some normalcy to our islands. Photo: GIS/File
Premier Dr the Hon Natalio D. Wheatley speaking on the payout said it ‘will enable us [VI] to address some of the most urgent needs of our people and restore some normalcy to our islands. Photo: GIS/File
The Virgin Islands (VI) Ministry of Finance has announced that the Government of the Virgin Islands (VI) has received a payout of US$552,297 from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) to assist in recovery efforts following the passage of Tropical Storm Philippe on October 4, 2023. Photo: Team of Reporters/File
The Virgin Islands (VI) Ministry of Finance has announced that the Government of the Virgin Islands (VI) has received a payout of US$552,297 from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) to assist in recovery efforts following the passage of Tropical Storm Philippe on October 4, 2023. Photo: Team of Reporters/File
ROAD TOWN, Tortola, VI – The Virgin Islands (VI) Ministry of Finance has announced that the Government of the Virgin Islands (VI) has received a payout of US$552,297 from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) to assist in recovery efforts following the passage of Tropical Storm Philippe on October 4, 2023.

Tropical Storm Philippe passed through the VI on Tuesday night, October 3, 2023, into Wednesday morning, causing widespread damage to homes, businesses, infrastructure, and agriculture in the Territory. 

Information from the Ministry of Finance said the payout was made under the facility’s excess rainfall policy and is the first since the Territory joined CCRIF in 2018.

Premier Dr the Hon Natalio D. Wheatley (R7), speaking on the payout, said  it "will enable us [VI] to address some of the most urgent needs of our people and restore some normalcy to our islands."

Money will help with recovery & reconstruction - Premier 

The Premier commented that the Government and people of the Virgin Islands are grateful to CCRIF for the timely and much-needed financial support in accordance with the agreement, which will help with the recovery and reconstruction efforts.

Dr Wheatley added that he recognises additional financial and other resources will be needed to assist with the recovery process and a Contingency Warrant would be issued to the Public Works Department in the amount of $500,000 "separate and apart" from the insurance proceeds, to aid with the recovery and rebuilding of the Territory from damages caused by Philippe.

Premier Wheatley further congratulated the members of his government for their foresight in entering into such an insurance policy for times like these whereby they can mitigate the financial gap in funding its recovery efforts.

19 Responses to “VI receives $500K insurance payout for damages from TS Philippe”

  • Mary (23/10/2023, 17:45) Like (18) Dislike (2) Reply
    Spend it in brewers bay fixing back the beach
  • HMMM (23/10/2023, 17:48) Like (13) Dislike (4) Reply
    This is good. I wonder which Premier & Minister of Finance was so innovative and forward thinking to put this in place so the country can benefit. It certainly wasn't slow man.
  • Public Officer (23/10/2023, 17:55) Like (17) Dislike (1) Reply
    Premier Wheatley further congratulated the members of his government for their foresight in entering into such an insurance policy for times like these whereby they can mitigate the financial gap in funding its recovery efforts.

    The above is from the article but as a public Officer he needs to thank Andrew Fahie for having this foresight that has now become a benefit for the country in the time of disaster. Like fahie or not he did plenty good for the country Thank you Fahie and for part of it thank you Dr. Smith.

    • @Public Officer (23/10/2023, 18:29) Like (11) Dislike (0) Reply
      You are speaking facts especially Fahie. I know this for a fact.
    • To: Public Officer (23/10/2023, 18:32) Like (8) Dislike (3) Reply
      He will never give credit to those two former Premiers because he has no regard, respect nor fear of them loke he does of Myron and others. Both of them were more effective than him.
    • To P O (23/10/2023, 22:14) Like (1) Dislike (1) Reply
      If the Territory “joined the CCRIF in 2018, then it would have happened under Dr. Smiths Government.
      • @To P O (24/10/2023, 13:32) Like (0) Dislike (0) Reply
        You are partially correct. Orlando signed the letter of intent to join. Fahie finalized and increased the policy as well as broaden the scope of the policy in a forward progressive minded manner. This is why both should be commended especially Fahie.
  • oh boy (23/10/2023, 17:58) Like (11) Dislike (2) Reply
    I cannot believe this man thanking his government for the insurance and CCRIF initiative where the BVI can get funding when it experiences the slightest of damages from disaster. Natalio better thank Orlando and Fahie especially Andrew. He needs to learn to give credit where credit is rightfully due.
  • bvibuzz (23/10/2023, 18:22) Like (11) Dislike (4) Reply
    Thank you Andrew Fahie the bvi is not better off with out you
    • East End woman (23/10/2023, 19:30) Like (7) Dislike (0) Reply
      I wasn't a fan of his but I have come to agree with what you post.
  • pat (23/10/2023, 19:59) Like (3) Dislike (1) Reply
    climate crisis is the real issues
  • @hmmm (23/10/2023, 20:38) Like (3) Dislike (3) Reply
    I remember a young lady wrote an article regarding securing insurance for the Territory. Looks like someone with sense was listening. Don’t waste the money now.
  • i from here (23/10/2023, 21:16) Like (5) Dislike (1) Reply
    government should be paying attention and helping locals with property still down and not repaired from 2017 because of lack of insurance. Can someone feel our pain?
  • To @hmmm (23/10/2023, 21:58) Like (2) Dislike (0) Reply
    Check the records. This wasn't just done. It was done long before she wrote any article.
  • street reporter. (24/10/2023, 00:32) Like (7) Dislike (0) Reply
    Getting the money is one thing a good thing. How the money is used is another thing and we know the Govt has a serious challenge of being honest..
  • Party? (24/10/2023, 07:10) Like (7) Dislike (1) Reply
    That’s enough money for 2 no stop parties! Let’s fete.
  • Hum (24/10/2023, 07:56) Like (1) Dislike (1) Reply
    More plane tickets for 1er
  • The Commissioner (24/10/2023, 15:54) Like (0) Dislike (0) Reply
    I am sure that our good Minister can find one two floor elevator for the Admin complex that can take care of these funds with no change left over...


Create a comment


Submit comment

Create a comment

Submit comment
Disclaimer: Virgin Islands News Online (VINO) welcomes your thoughts, feedback, views, bloggs and opinions. However, by posting a blogg you are agreeing to post comments or bloggs that are relevant to the topic, and that are not defamatory, liable, obscene, racist, abusive, sexist, anti-Semitic, threatening, hateful or an invasion of privacy. Violators may be excluded permanently from making contributions. Please view our declaimer above this article. We thank you in advance for complying with VINO's policy.

Follow Us On

Disclaimer: All comments posted on Virgin Islands News Online (VINO) are the sole views and opinions of the commentators and or bloggers and do not in anyway represent the views and opinions of the Board of Directors, Management and Staff of Virgin Islands News Online and its parent company.