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Earlier this week the agency forecast Dorian losses to cost between $3.5bn and $6.5bn in the Caribbean.
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The system could bring tropical storm-force winds to east Florida over the weekend.
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Modelled average annual loss is less than a quarter of the economic estimate, meaning more needs to be done to close the protection gap, the modeller said.
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The country, which joined ARC this year, will receive a payment of $738,835.
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The programme has been designed to provide $2bn of excess cover for Sempra and CalEdison.
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Estimates of insured losses from Faxai are at around $3bn but sources were cautious given Jebi was initially put at the same level but became a $15bn-plus loss. -
Most losses will come from the Bahamas which are likely to account for just over $3.6bn of losses, the modeller said.
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The storm killed one person and damaged property.
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The loss tracking agency's data has been used on $17bn of reinsurance limit in its 10 year history.
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Global cyber (re)insurance is expected to grow 25-30 percent a year, chairman of Munich Re’s reinsurance committee Torsten Jeworrek said in Monte Carlo.
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The reinsurer announced it is looking at setting up a separate balance sheet to write risk on behalf of third-party investors.
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The typhoon is forecast to make landfall over the eastern outskirts of the Chiba prefecture, southeast of Tokyo, with windspeeds equivalent to a Cat 3 hurricane.
