Panama Receives $17.4M CCRIF Payout Following Major Earthquake

The Caribbean Catastrophe Risk Insurance Facility paid the Government of Panama US$17.4 million following a magnitude 7.7 earthquake that struck the country on October 9, 2026. This payout provides funds to support disaster response within 14 days of the event. According to preliminary reports, the earthquake caused damage to homes, schools, hospitals, public buildings, and roads across several provinces in Panama.

The payout provides immediate funds to the government of Panama to support its disaster response efforts. The Caribbean Catastrophe Risk Insurance Facility determined that modelled government losses exceeded the attachment point of Panama’s earthquake insurance policy, triggering the payment.

A major earthquake triggered a tsunami alert and caused widespread power outages in Chile and Panama, leading to widespread infrastructure collapse in Panama.