KINGSTON, Jamaica—Following the widespread destruction caused by Hurricane Melissa, Jamaica is poised to receive a full payout of US$150 million under its catastrophe insurance coverage, facilitated by a World Bank-backed catastrophe bond issued in 2024. This financial support underscores the effectiveness of Jamaica’s disaster risk management strategy and the critical role of catastrophe bonds in mitigating the economic impact of natural disasters.
Melissa triggers 100% payout of US$150 million World Bank catastrophe bond for Jamaica
