Barbadian householders and business owners who can afford to acquire property insurance should do so before it’s too late.
Minister of Home Affairs Wilfred Abrahams made that point while warning that the Government might not be in a position to bail out as many people as it did in the past, after major disasters.
“I was told the accurate figure is 95 per cent of all boats impacted by the storm surge associated with Hurricane Beryl were uninsured.
“After Hurricane Elsa, the Government of Barbados embarked upon perhaps the single largest social rescue programme in the history of the Government, in undertaking to repair and rebuild damaged and destroyed homes . . . because most of the affected housing stock was not insured.
“The Government did it at that time because there was no other option. It was not expected. People were caught by surprise. The reality is if the most vulnerable are affected, then the Government has to step in to cover them and ensure that they can get back on their feet.
“Bailouts of the scale in Elsa and Beryl are unlikely to ever happen again. The Gvernment just cannot afford to do that again,” Abrahams said.
He made those comments yesterday during a press conference to launch the 2025 Atlantic hurricane season at the Department of Emergency Management headquarters, Warrens, St Michael.
More than 1 700 houses were damaged or destroyed by Hurricane Elsa in 2021 and those repairs had cost the Government about $120 million.
Last year more than 200 boats were either damaged or destroyed during Hurricane Beryl. In February, Minister of Environment, National Beautification and the Green and Blue Economy Adrian Forde said the Government had spent nearly $7.5 million to assist the fishing industry following the passage of Beryl, which landed during the wee hours of July 1.
Meanwhile, Abrahams urged those individuals who could afford insurance to secure their packages.
“To not do so, you risk all at one thing to not insure your house. your business, when you don’t depend on to make money and playing with your future,” Abrahams During the launch, a multihazard Transport Board bus was also Director of the Barbados Meteorological Best; director of the Department Kerry Hinds; and manager of Services at Sagicor General, Donelle spoke at the launch.
While citing figures from the Association of Barbados, Belgrave-Abrahams’ points about the importance “We reached out to the General of Barbados to get an understanding Approximately $16 million in Hurricane Elsa in 2021.
“Last year we had Hurricane Beryl and we don’t have those numbers yet, but we are expecting to be just as high.
“These numbers do not include the insured or economic losses the country experienced. These numbers underscore the immense social and economic strain that is placed on our country,” Belgrave-Young said.
She acknowledged that not everyone understood how the insurance process worked, but she said they were partnering with various organisations to better inform the public.
“At Sagicor, we believe that insurance is a cornerstone of resilience. When disaster strikes, the right coverage means people can start to rebuild. It means businesses can reopen, employees can return and communities can get back up faster.
“We know insurance can be a little complicated and it is hard for some people to reach out to ask these questions. That is why we are very committed to providing coverage and clarity to educate the public,” she added.
(TG)
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