Verisk Estimates Jamaica Hurricane Melissa Insured Losses at Up to $4.2 Billion

Reuters11-03

Verisk Estimates Jamaica Hurricane Melissa Insured Losses at Up to $4.2 Billion

Verisk Analytics Inc. has released an industry analysis estimating that insured losses to onshore property in Jamaica from Hurricane Melissa will likely range between USD 2.2 billion and USD 4.2 billion. The report highlights that most of the modeled loss is attributable to wind, with significant additional damage from precipitation-induced flooding. The analysis notes that less than 20 percent of residential properties in Jamaica are insured, with many underinsured, and substantial portions of commercial and automobile sectors also lacking insurance coverage. The findings also emphasize that widespread structural damage occurred across various building types, particularly in areas where construction practices are informal and professional input is minimal. Loss estimates do not include damages to uninsured properties, infrastructure, or losses from government protection programs.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Verisk Analytics Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9567165-en) on November 03, 2025, and is solely responsible for the information contained therein.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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