RJR NEWS

The Insurance Association of  Jamaica is urging property owners to maintain their property insurance amidst the upcoming increase in premiums.

News came on Friday that property insurance rates in Jamaica will be going up by as much as 35 per cent as reinsurers try to recover from the massive losses caused by Hurricanes Irma and Maria which ravaged several Caribbean countries earlier this year.

Peter Levy, Vice President of  the Insurance Association, says the local property insurance market has remained stable in recent years, and given the threat of  weather systems in the region, property owners should maintain insurance coverage for their assets.