Bahamas News

Island Nations, Such as Bahamas & Jamaica, at High Climate Change Risk: Moody’s

The Bahamas, Fiji, Jamaica and the Maldives have been identified as among the most vulnerable small island sovereigns in a report on the credit implications of climate change. The Solomon Islands and St. Vincent and the Grenadines are equally at …

Hurricane Warnings Issued as Tropical Storm Joaquin Gains Strength

The National Hurricane Center’s latest bulletin, issued at 5:00 EDT, notes that the “government of the Bahamas has issued a Hurricane Warning for the central Bahamas, including Cat Island, the Exumas, Long Island, Rum Cay, and San Salvador.” The NHC …

AIR Lowers Insured Loss Estimates for Hurricane Irene in the Bahamas

Catastrophe modeling firm AIR Worldwide has revised its industry insured loss estimates for Hurricane Irene’s impact in the Bahamas to between $200 million and $400 million (previously $300 million to $700 million). However, AIR also indicated that its “loss estimates …

Irene Losses Won’t Trigger Policy Payouts – CCRIF

The Caribbean Catastrophe Risk Insurance Facility (CCRIF) announced that, “while Hurricane Irene resulted in registered losses in six of its member countries (Anguilla, Antigua & Barbuda, the Bahamas, Haiti, St. Kitts & Nevis and the Turks & Caicos Islands), none …

AIR Estimates Irene Insured Caribbean Losses at $500 Million to $1.1 Billion

AIR Worldwide has estimated that insured losses in the Caribbean from Hurricane Irene will be between $500 million and $1.1 billion. AIR said it “expects the Bahamas will account for more than 60 percent of the insured loss—between $300 million …

Northeast Likely to Suffer Significant Damage from Irene

Hurricane Irene is likely to cause more insured losses in the Bahamas than 1999’s devastating Hurricane Floyd, catastrophe modeler AIR Worldwide said Thursday, even as the storm increasingly tracks toward a weekend landfall in the greater New York City area. …

Irene Causes Extensive Property Damage on Smaller Islands in the Bahamas

Large and powerful Hurricane Irene roared across the Bahamas archipelago on Wednesday, knocking down trees and destroying homes on a path that officials said posed the greatest threat to the country’s smaller, less-populated islands. There were no immediate reports of …

Hurricane Irene Batters Bahamas, Threatens Carolinas, Northeast

Hurricane Irene washed away homes in the Bahamas Thursday as its battering winds and rain headed toward the U.S. eastern seaboard including densely populated New York and New England. U.S. emergency officials have urged residents from the Carolinas north to …

Best Removes Bahamas First Gen’l., Cayman First Ratings from Review

A.M. Best Co. has removed from under review with negative implications and affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit rating (ICR) of “a-” of Bahamas First General Insurance Company Limited (BFG). Best has also removed …

Tomas Regains Hurricane Strength; Soaks Haiti Refugee Camps

Tropical Storm Tomas re-strengthened to a hurricane Friday as it headed between Cuba and Haiti, drenching with overnight rain crowded tent and tarpaulin camps housing vulnerable Haitian earthquake survivors. Although some camp dwellers in Haiti’s capital, homeless from the Jan. …