JAMAICAN insurers said Friday they would fast-track low-complexity Hurricane Melissa claims and target settlement of major eligible cases by the end of September, but a joint statement published as an advertisement disclosed neither how many claims remain open nor how much has been paid, more than nine months after the storm.

The Jamaica Insurance Brokers Association (JIBA) separately said it supported an industry objective to settle the “vast majority” of claims, excluding complex and litigated matters, by the same date. The statement did not define those categories or explain how performance against the target would be measured.

The Financial Services Commission (FSC), Insurance Association of Jamaica (IAJ), JIBA and Loss Adjusters’ Association of Jamaica (LAAJ) made the commitments in a full-page newspaper advertisement following what they described as a wider insurance industry meeting convened by the FSC.

According to the statement, the meeting assessed progress in settling claims, identified impediments and agreed measures intended to improve outcomes for policyholders. It did not disclose when the meeting was held, identify the impediments found or detail the measures agreed.

The FSC did not adopt the September target but said it would continue monitoring settlement performance, engage insurers directly where necessary, and take “appropriate supervisory action” to support the resolution of outstanding claims.

The LAAJ also gave no deadline. It said loss adjusters remained committed to processing claims fairly, transparently and as quickly as possible, while working with insurers and the FSC to reduce unnecessary delays.

Melissa made landfall near New Hope in Westmoreland on October 28, 2025, as a Category 5 hurricane with maximum sustained winds of approximately 185 mph, according to the United States National Hurricane Center.

The Planning Institute of Jamaica subsequently estimated the hurricane’s physical damage, economic losses, and additional costs at $1.952 trillion, or US$12.232 billion, equivalent to 56.7 per cent of Jamaica’s 2024 gross domestic product. Melissa is Jamaica’s costliest hurricane on record.

Friday’s statement follows months of pressure on the insurance industry over delayed claims.

Prime Minister Andrew Holness in June challenged private insurers to accelerate payments, contrasting their performance with that of the State-run National Housing Trust, which processed 3,835 claims valued at approximately $7 billion and disbursed about $2.85 billion.

The FSC subsequently issued a public advisory warning that the extraordinary volume and complexity of claims arising from Melissa did not diminish insurers’ obligations to deal with policyholders fairly, transparently and without avoidable delay. The regulator said it was aware of complaints about insurers’ responsiveness and had requested detailed claims information directly from general insurance companies.

No official market-wide settlement rate has since been published.

The IAJ said in July that it did not maintain a consolidated tally because individual insurers report their claims information directly to the FSC as part of the regulator’s supervisory process. The FSC has not disclosed an aggregate figure showing the total number or value of Melissa claims, the amount paid or the proportion remaining unresolved.

One of the few public estimates came from Christian Watt, chief executive of IronRock Insurance Company, who placed the market-wide settlement rate at between 35 and 40 per cent at the end of May. The Financial Gleaner, which reported the estimate, said it was unable to corroborate the figure with either the FSC or the IAJ.

IronRock, Jamaica’s smallest general insurer by assets, has reported faster progress on policies for which it was the sole or lead insurer. The company said that by July 31 it had settled and closed more than 87 per cent of those claims and made settlement offers on another eight per cent, substantially concluding approximately 95 per cent.

Its overall settlement rate across all Melissa-related claims stood at 56 per cent at the end of May, however, reflecting co-insurance arrangements in which another company was responsible for leading the adjustment and settlement process.

The financial effects of Melissa have also been reflected in the industry’s results. The FSC’s review for the quarter ended March 2026 showed that the general insurance industry recorded a pre-tax loss of $200 million, reversing a $600-million profit in the corresponding quarter a year earlier. Industry-wide solvency declined, although most insurers remained above the regulatory minimum. The review provided no claims-settlement data.

The FSC has also begun a focused review of issues arising from insurers’ use of the “average clause”. The provision allows an insurer to reduce a payout proportionately when a property is insured for less than its replacement value.

The IAJ said it was supporting a public education campaign on claims procedures and policy provisions, including the average clause. The four organisations also advised policyholders to submit supporting documents promptly, photograph or record damage before repairs, retain receipts for emergency work and temporary accommodation, respond to requests from insurers and adjusters, and keep their contact information current.