Alive and uninsured: rebuilding businesses after hurricanes

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Hurricane Otis destroyed 80% of the businesses in Acapulco, according to the Confederation of National Chambers of Commerce, and Bucio, like many small-businesses owners, was uninsured.

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To fill the gap and unlock cash more quickly, parametric microinsurance is increasingly seen as an option to help cushion the financial blow of ever-more-frequent hurricanes.

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But with few social protection systems operating in the Caribbean, most small businesses rely on short-term cash transfers from the U.N., aid agencies or government.

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"The insurance industry is still learning how to sell parametric insurance and educate people about it," said McCosh, but the guaranteed payout structure could help bridge that gap.

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