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JAMAICAN insurers said Friday they would fast-track low-complexity Hurricane Melissa claims and target settlement of major eligible cases by the end of September, but a joint statement published as an advertisement disclosed neither how many claims remain open nor how much has been paid, more than nine months after the storm.
The Jamaica Insurance Brokers Association (JIBA) separately said it supported an industry objective to settle the “vast majority” of claims, excluding complex and litigated matters, by the same date. The statement did not define those categories or explain how performance against the target would be measured.
The Financial Services Commission (FSC), Insurance Association of Jamaica (IAJ), JIBA and Loss Adjusters’ Association of Jamaica (LAAJ) made the commitments in a full-page newspaper advertisement following what they described as a wider insurance industry meeting convened by the FSC.
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