Bahamas First’s chief executive yesterday said laws making it mandatory for all business and residential property owners to have full catastrophic insurance cover “must be on the table for discussion”.
The International Monetary Fund called for The Bahamas to develop “new approaches” to increasing insurance penetration and prevent the “dire straits” suffered by any homeowners post-Hurricane Dorian.
New approaches to extend insurance coverage as part of a broader disaster risk management strategy would increase resilience.
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