Property owners are being told to brace for an increase in insurance rates of 10 to 15 per cent this year.
Orville Johnson, Executive Director of the Insurance Association of Jamaica, has said this is due to increasingly destructive Atlantic hurricane seasons in recent years.
Johnson said factors such as the type of construction and property location will determine the level of rate increase.
He also said property owners can take advantage of increased competition in the market to ascertain their new premiums.
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