In just one week and two airplane rides, the media, the speculators, the “expert” analysts, and the political spin doctors are up at full speed. Contradictions of opinions, historical precedencies, former diplomatic maneuvers, and fairly obscure academics are having their one minute soundbites that will give rise to yet another book.

As we approach the end of the calendar year most companies that have December 31, as a year-end are busy tidying up their books in anticipation of a timely and smooth audit. For the listed companies they have a deadline to meet for consolidation and completion within 90 days. For most, they would have completed their 2018 budget processes by October, but due to a few significant recent external events these may require a re-think of their original strategy.

This has been an unprecedented 2 weeks in our Region. Three major hurricanes reaching Category 4 and 5; two major earthquakes at over 7.1 on the Richter Scale; do not represent any previous fortnight ever, and unfortunately may hereafter represent a new standard of perils. We are entering a time of that is unusual and climatic conditions that may have reached the “Tipping Point” of no return.

The concept of climate change is again a very topical issue. Jamaica has had two recent bouts with heavy rains that have emphasized previously known areas of hazards, and have identified totally new areas that were previously overlooked or were dormant. The estimates of damages are not yet final, and even due diligence will not capture undocumented losses of agriculture, livestock, or illegal housing. Therefore the potential losses will continue as mere replacement does not necessarily equal enhanced restoration.