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As weather experts discuss the rapid development of a Super El Niño in the tropical Pacific Ocean, local financial experts from the GraceKennedy Financial Group (GKFG) are urging Jamaicans to pay close attention, treating the climate updates as a financial-planning signal.

Recent international reporting has warned that the current El Niño pattern could become particularly intense later this year. Scientists have pointed to the possibility of a “very strong” or “super” El Niño, with implications including hotter conditions, shifting rainfall patterns, pressure on global agriculture, higher food prices and inflation, and broader health risks.

Jermaine Blissett, Head of Payments at First Global Bank (FGB) and Tammara Glaves Hucey, Managing Director, General Insurance Business at the GK Financial Group (GKFG), share tips below on how to prepare for what is being called the main global weather driver in 2026/2027.

1.     Confirm What Is Covered now.

“The first step is to review insurance coverage before an emergency occurs. Property owners should confirm what is covered under their policies, including wind, fire, flood, contents, business equipment, and other weather-related exposures. Motorists should also review their motor coverage because extreme heat, sudden showers, poor visibility, and damaged road surfaces can increase risk on the road,” shared Glaves Hucey.

The World Meteorological Organisation (WMO) has urged governments, humanitarian agencies and climate-sensitive sectors to use warnings for planning and preparedness. Locally, farmers have already been encouraged to conserve water and prepare for drier and hotter conditions. 

For farmers and small business operators, this review is more urgent than ever, the insurance executive stressed. 

“A severe climate event can affect crops, livestock, equipment, inventory, delivery routes, staff attendance, and customer demand. In that context, insurance should not be seen simply as a document needed for compliance. It is part of a recovery plan,” she discussed.

Underinsurance is still one of Jamaica’s biggest threats to recovery. Industry data from the Insurance Association of Jamaica (IAJ) shows that only 20 per cent of homes in Jamaica are insured, leaving 80 per cent at risk. Glaves Hucey shared that if the value of a home, vehicle, farm asset, or business stock has increased, but the policy has not been updated, the customer may not be adequately protected. Jamaicans should speak with their insurance advisors, review sums insured, understand deductibles and ask clearly: “If I suffer damage, what exactly happens next?”

2.     Prepare for Your Claims Process

“The claims process also starts before you make a claim. Take updated photos and videos of your home, vehicle, place of business, farm, equipment, and valuable items. Save receipts, valuations, ownership documents, and policy information digitally. Keep emergency contacts for your insurer, broker, bank, landlord, contractor, and key family members. After a weather event, report damage early, document everything and avoid disposing of damaged items before receiving guidance,” she said.

Banking readiness, Blissett stressed, is the other side of the same resilience equation. He shared that our island exposure is different, but the lesson is the same: “Climate events no longer test only our infrastructure. They test how quickly families can access their money, how businesses continue accepting payments, and how communities recover. Financial resilience now depends as much on payment resilience as it does on emergency preparedness,” said the payments leader.

3.     Ensure Your Payment Options Remain Available

“Resilience is not only about having access to your bank account. It also means having multiple ways to pay and receive money if one payment channel becomes unavailable.” Blissett shared.

Drawing on recent weather events, he urges customers to avoid relying on a single payment channel and to keep a combination of debit cards, credit cards, digital wallets such as GK One, mobile banking, online banking, and a limited amount of cash available. If one payment method is disrupted, another can continue supporting essential purchases.

4.     Increase Protection Against Fraud 

Customers should enable available card security features such as transaction alerts, spending controls, and temporary card locking where supported. These tools can reduce the risk of fraud if a wallet or card is lost during an emergency. He explained that criminals often exploit disasters by impersonating banks, government agencies, charities, or utility providers, especially in donation scams. He insists on verifying payment requests before sending funds.

“Emergencies create urgency, which then creates opportunities for scammers. Customers should be cautious of messages promising emergency grants, insurance payouts, loan approvals, or account verification through suspicious links. Your bank will typically not ask for your password, PIN, token code or full card details by phone, email or social media message. In uncertain periods, verify before you click, pay, or share,” he urged.

5.     Keep Commerce Moving During Disruptions

In 2025, many businesses suffered a dip in productivity after Hurricane Melissa. Blissett encourages companies to prepare to operate after any potential storm.

“Businesses should test their POS terminals, ensure backup internet connectivity where possible, maintain alternative payment acceptance methods and verify settlement accounts ahead of the call of the first major hurricane,” He said.

In addition, companies should prioritise business continuity for critical areas such as payroll and inventory management. Businesses should confirm payroll arrangements and alternative payment approval processes if key personnel are unavailable.

As local telecommunications providers have enhanced their preparedness, he is encouraging companies to explore contactless and digital payments to reduce the need to handle cash in emergencies and enable faster transactions when queues are long and resources are limited.

6.     Take Nothing for Granted

For employers, schools, churches, farmers’ groups and SMEs, the call is equally clear. 

Review business continuity plans, confirm staff communication channels, update insurance schedules, and protect critical records. Organisations must know how salaries, supplier payments and customer collections will continue if movement, water supply, or power is disrupted.

The banking and insurance executives shared that financial resilience is not only about saving for emergencies. It is also about maintaining the ability to make and receive payments when communities need them most. 

In today’s world, financial resilience depends on payment resilience. When families can still access their money and businesses can continue accepting payments after a disaster, recovery begins immediately, rather than days later.