Too many Jamaicans lack disaster risk insurance, says geoscientist

By Judana Murphy

A United Kingdom-based geoscientist is asserting that too few Jamaicans have insurance coverage for property damage in the event of a natural disaster.

Speaking at the second international conference on disaster-risk reduction in the Caribbean at the Mines and Geology Division on Wednesday, Dr Servel Miller emphasised that insurance was the most powerful tool to give a financial cushion in the event of sudden losses.

“Unfortunately, in countries like Jamaica, for example, a middle income country, the take-up of insurance is not that great. It’s around 10 to 14 per cent and, as such, recovery is challenging,” he said.

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The Natural Hazard Management Programme leader suggested that a diversification of Jamaica’s insurance sector is needed.

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