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Update: BOJ launches new banknotes, to phase into circulation by June

Update: BOJ lanches new banknotes, to phase into circulation by June Share Published:Friday | December 16, 2022 | 9:52 AM Previous Next Gladstone Taylor Deputy Governor of the Bank of Jamaica Natalie Haynes displays a straightened-out specimen that was crumpled to demonstrate the hardiness of the new banknotes launched on Thursday, December 15, at the […]

BOJ projects $227.6 billion will be in circulation for Christmas season

The total currency in circulation during December 2022 is expected to amount to $227.6 billion, says the Bank of Jamaica (BOJ). The projected currency stock represents a 0.3 per cent increase compared to 19.1 per cent for the corresponding period in 2021, the BOJ further stated. It added that a total of $211.4 billion was in […]

Fed raises key rate by half-point and signals more to come

The United States Federal Reserve reinforced its inflation fight Wednesday by raising its key interest rate for the seventh time this year and signalling more hikes to come. But the central bank announced a smaller hike than it had in its past four meetings at a time when inflation is showing signs of easing. The […]

Florida lawmakers seek to calm property insurance storm

Florida lawmakers are trying to fix in three days a home insurance problem that’s been stormy for three decades, approving legislation designed more to keep private insurers in the state than to immediately save property owners money. A massive bill seeking a US$1-billion reinsurance fund, reduced litigation costs, and to force some customers to leave […]

Property insurance crisis!

THE Insurance Association of Jamaica (IAJ) is advising that the property insurance market is in crisis and homeowners should expect to feel the effects in the coming months. Speaking at a press conference on Wednesday, IAJ Director Peter Levy said, “We currently are in crisis, but there’s a way through it, but we have to […]

Reinsurers want higher rates or will back out of the market

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IAJ 2022 YEARBOOK

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Chronic diseases driving up NHF expenditure

As many Jamaicans continue to shun healthy lifestyle practices, chronic non-communicable diseases (NCDs), particularly diabetes, hypertension, heart conditions and poor circulation issues, continue to consume a large share of National Health Fund (NHF) expenditure in subsidising medication for such patients. The NHF is a State entity which manages the Pharmaceutical and Medical Sundries Warehouse and […]

Climate crisis: FSC says risks for the vulnerable have increased

EVERTON McFarlane, executive director of the Financial Services Commission (FSC), Jamaica, says the need for inclusive insurance is even greater now given heightened exposure to climate risk. McFarlane, who was keynote speaker at the International Conference on Inclusive Insurance 2022 held in Kingston from 24-28 October 2022, said climate events have increased in occurrence and […]