HURRICANE SEASON BRINGS FINANCIAL FEARS IN THE CARIBBEAN
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✍️ Hurricane Irma's devastating impact on Barbuda and other Caribbean islands has led to a significant increase in home insurance premiums, making it unaffordable for many residents.
👉 Home insurance premiums have increased by up to 40% in some Caribbean islands in the past two years. 👉 The region's unique market, characterized by increasing risk and small populations, has led to a surge in premiums. 👉 Many residents build homes "out of pocket" and opt not to insure them, leaving them vulnerable to natural disasters. 👉 Insurance companies, governments, and international organizations are working to mitigate the impacts of disasters and provide assistance to affected communities.
-- #DwightBenjamin #PeterLevy #MohammidWalbrook #GastonBrowne #LuisGamarra #SherrodJames #Barbuda #AntiguaandBarbuda #Caribbean #Jamaica #Barbados #UK #TurksandCaicos #Dominica #world
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