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Multi-tiered approach needed against natural disasters in Bahamas: Official


Emmanuel Komolafe, chairman of the Bahamas Insurance Association, called using different financial instruments for different layers of risk following increasing hurricane losses in the Bahamas, Tribune242 reported. Mr. Komolafe said that the approach involved setting up a disaster fund according to the International Monetary Fund's suggestion and increasing insurance penetration through a combination of tax and other incentives.

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