Hurricane Melissa in Jamaica: Damage estimated at $2.2 to $4.2 billion

According to Verisk Analytics Inc., insured losses from Hurricane Melissa's damage to onshore property in Jamaica now range from $2.2 billion to $4.2 billion, UNN reports with reference to Bloomberg.

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Hurricane Melissa is likely to cost Jamaican residents much more money. According to Verisk, less than 20% of residential properties on the Caribbean island are insured, with a significant portion being underinsured.

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Last week, Melissa made landfall as a Category 5 hurricane with winds of 298 kilometers per hour, and is considered one of the most intense storms of its kind to make landfall.

According to Verisk, the hurricane destroyed 80% to 90% of roofs in some areas of St. Elizabeth Parish, where Melissa made landfall. In some areas, all roofs were destroyed.

Prime Minister Andrew Holness reported last weekend that 28 people died on the island as a result of the Melissa disaster.

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