As government moves to increase its contingency fund to $10 b, members of the Public Administration and Appropriations Committee (PAAC) have questioned the need for Jamaica’s continued payment to the Caribbean Catastrophe Risk Insurance Facility (CCRIF).

Speaking at the committee meeting this morning (Mar 26), Member Leslie Campbell, queried whether it was good practice to continue paying to the Caribbean Insurance Facility, while still having to set aside money in the country’s budget.

His sentiments were echoed by the PAAC Chairman who noted that Jamaica has been paying into the Caribbean Insurance Fund for years without ever receiving a payout.

In response to the members’ concern, Acting Financial Secretary Darlene Morrison noted that the contingency fund is limited in its capacity to cover the country if there is a large scale disaster.