St. Vincent & the Grenadines Financial Services Authority urges early review and purchase of hurricane insurance coverage

The St. Vincent & the Grenadines Financial Services Authority has published a public advisory ahead of the Atlantic hurricane season urging households and businesses to review or obtain insurance before storms approach. The authority stresses that adequate coverage can materially improve financial recovery after a hurricane, while warning that standard policies may not cover all hurricane-related losses, particularly flooding. The advisory highlights that insurance can help pay for property repairs, replacement of damaged belongings and temporary living costs, and that business interruption coverage can support firms through lost income and ongoing expenses during recovery. It urges policyholders to confirm that current cover remains adequate, update sums insured to reflect the true value of property and assets, check that hurricane and related perils are included, document belongings with photos or videos, compare available policies and renew or secure coverage early because many policies have waiting periods and may not take effect immediately after purchase.