Jamaica plans to restore its catastrophe bond coverage ahead of the Atlantic hurricane season, according to experts.

They expect the country to raise around US$150 million in new parametric protection.

"I am aware of the Government of Jamaica's efforts to secure new financing from international capital markets for another catastrophe bond, under the World Bank's Capital-at-Risk programme," said Everton McFarlane, executive director of the Insurance Association of Jamaica. "The amount sought is US$150 million in parametric cover for named storms and hurricanes, beginning in May 2026."