Insurance gaps leave Barbados exposed to climate, economic shocks, minister warns
AI Summary
Barbados is facing significant risks due to insufficient insurance coverage in critical areas like housing and agriculture, warns Economic Affairs Minister Marsha Caddle. Without broader insurance, the government could face heavy financial strain after natural disasters, exacerbating economic shocks. This situation highlights the urgent need for improved risk management strategies to protect the nation's economic stability against the backdrop of increasing climate-related threats.
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