Privately insured losses from Hurricane Melissa, which struck Jamaica and Cuba last week, are expected to reach approximately $2.4 billion, according to catastrophe modelling firm Karen Clark & Co. (KCC).
The hurricane made landfall in Jamaica as a Category 5 storm on 28 October and in Cuba as a Category 3 on 29 October.
KCC reported that the most common damage in Jamaica occurred to building roofs. While the island’s reinforced masonry structures largely withstood the strong winds, the lighter metal roofs proved far more vulnerable. Significant damage was recorded in towns such as Black River and Montego Bay in western Jamaica.
“Although this storm caused severe destruction in parts of Jamaica and Cuba, the insured losses will be substantially lower than the total economic impact due to the low levels of insurance coverage,” KCC stated.
The hurricane made landfall in Jamaica as a Category 5 storm on 28 October and in Cuba as a Category 3 on 29 October. KCC reported that the most common damage in Jamaica occurred to building roofs. While the island’s reinforced masonry structures largely withstood the strong winds, lighter metal roofs were far more vulnerable. Significant destruction was recorded in towns such as Black River and Montego Bay in western Jamaica.
“Although this storm caused severe destruction in parts of Jamaica and Cuba, the insured losses will be substantially lower than the total economic impact due to the low levels of insurance coverage,” KCC said.
The analysis highlights the ongoing gap between total economic losses and insured losses in the Caribbean, emphasizing the vulnerability of communities with limited insurance coverage.