Strategies for Managing Mortgaged Houses/Buildings Affected by Hurricanes in the Caribbean Financial Market

Abstract

Given the epistemological gap arising from the limited studies elucidating a clear depiction of a combination of strategies that can be used for managing bank loan securities affected by hurricanes, this study fills such a gap by offering a critical evaluation of the strategies for managing bank loan securities affected by hurricanes. The study used a mixed research method encompassing the use of integrative review and qualitative Delphi method. It was through the integrative review that the study was able to identify from the existing studies the strategies for managing bank loan securities affected by the hurricanes. Basing on the emerging findings, qualitative Delphi method was used to probe the opinions of the selected bank managers about the efficacy of using such strategies. Thematic analysis reflecting the triangulation of the results of integrative review with the findings of Delphi study indicated the major strategies for managing bank loan securities affected by hurricanes to often entail the utilisation of hurricane-resilient infrastructure, insurance systems, disaster relief fund and bank contingency fund. Even if these strategies may be effective, their efficacy may still be limited by a series of hurricanes that the Caribbean region experiences. In the period between the year 1979 and 2019, the Caribbean region experienced five deadly hurricanes. Combined with the occurrence of the unexpected events like the Covid-19 pandemic in 2019, the devastating economic effects of RussiaUkraine War and then the recent 2024 hurricane Beryl, this places extreme strain on the disaster relief fund, bank contingency fund and the insurance system to suggest future studies must still continue to explore how to deal with the devastating effects of the hurricanes on bank loan securities.