Verisk estimates insured losses for hurricane Melissa will range between USD 2.2 billion to USD 4.2 Billion

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      <subfield code="a">Verisk estimates insured losses for hurricane Melissa will range between USD 2.2 billion to USD 4.2 Billion</subfield>
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      <subfield code="a">Verisk estimates insured losses for hurricane Melissa will range between usd 2.2 billion to usd 4.2 billion -- meteorological history of Melissa -- putting damage in perspective from the context of building codes</subfield>
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      <subfield code="a">The document estimates that insured losses from Hurricane Melissa in Jamaica range between USD 2.2 billion and USD 4.2 billion, marking it as the most intense hurricane to ever make landfall on the island and one of the strongest globally since 1851. The report outlines Melissa's meteorological development, its destructive impact on residential and commercial infrastructure, and highlights the vulnerability of buildings due to informal construction practices and weak enforcement of building codes. It also emphasizes Jamaica's low insurance coverage, especially in the residential sector, which exacerbates the economic consequences. The estimate excludes various uninsured losses, such as infrastructure damage, marine assets, and indirect costs like demand surge</subfield>
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