Climate projections for the Caribbean region foresee an upsurge in both the frequency and severity of weather events as early as this year. Predictions say that this increased vulnerability will increase the cost of insurance premiums for property owners as the Caribbean is widely considered a “disaster zone”.

PRO of Saint Lucia’s Insurance Council, Adelle Jean Baptiste, notes that insurance providers assess risk factors to determine a consumer’s insurance package. Risk factors include the location of the property, the materials with which it was built and its value.

“We look at low lying areas in flood prone zones. We look at whether you're a beachfront property, the construction of your property, location, etc. And we expect that you too will be interested in protecting your investment. So we have those necessary discussions with you,” she explains.

Governments have issued calls to homeowners to make their houses more “climate resilient”. This would mean a departure from the traditional galvanize roofing to a concrete surface able to withstand the elements.

Homeowners are also encouraged to install hurricane shutters over their windows, and invest in electrical generators and solar power. These changes are not only cultural but require significant financial investment.

More than 90% of roofs in the Grenadian territory of Carriacou were blown away by Beryl’s Category 4 strong winds; in some instances, entire structures were flattened.

Resource constraints limit the ability of Caribbean governments to provide direct assistance to homeowners to fortify their property.

The Insurance official adds that customers must be proactive in protecting their investments from the elements. Fishermen in Soufriere were hardest hit by the passage of Hurricane Beryl, with many vessels damaged beyond repair.

“There were many questions posed to us about what we can do for fishermen. And just as I said, it's also your investment. So being responsible about mooring your vessels away from the sea prior to a named storm is an example.”

There are fears that the current insurance arrangements that exist in the Caribbean will not be able to meet the insurance demands of the coming years.