Published: Sunday | January 11, 2015. Cedric Stephens, Contributor
QUESTION: What is the outlook for insurance prices in the Caribbean during 2015? For the second year in a row, the region did not suffer any major damage during the hurricane season. Are we likely to be seeing any price reductions this year like those that are now occurring at the gas pumps, which are due to the decline in the cost of crude oil?
– C.B., Ocho Rios PO, St Ann.
INSURANCE HELPLINE: This year 2015 marks the second successive year that a reader has posed a question like yours at the start of the New Year.
Last year’s article, “No clouds in the forecast on home insurance”, was written in response to an enquiry from a householder in Mandeville. He had re-roofed his house and wanted to know what impact that would have on his home insurance premium.
Though the scope of your question is much broader, the consensus among the experts at this time is even more positive than it was last year. To continue the weather analogy: The price outlook for Caribbean insurance consumers this year is can be described as generally sunny with a few clouds.
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