Hurricane Season

Roach Stresses Insurance Preparedness as 2023 Hurricane Season Begins

As the 2023 Atlantic hurricane season officially commenced on June 1, Lieutenant Governor Tregenza Roach is urging Virgin Islands residents to secure appropriate insurance coverage to protect their properties and belongings. According to predictions from the National Oceanic and Atmospheric Administration (NOAA), there's a 40% chance for a near-normal hurricane season this year, with an anticipated 12-17 named storms. Despite these moderate expectations, the lieutenant governor is stressing the importance of preparedness and adequate insurance coverage. Roach, whose office includes the Division of Banking, Insurance and Financial Regulation, has disseminated a comprehensive list of tips and reminders, outlining crucial aspects of insurance policies and coverage requirements. Among his key suggestions, Roach advises homeowners to avoid underinsurance by opting for Replacement Cost Value homeowner's insurance. This coverage should amount to at least 80% of the property's replacement c...