The Hartling Group, owners of three luxury resorts in Turks and Caicos recently created its new “No-Hassle, 100% Refund Policy,” in the event of a hurricane threat.

Previously a stationary hurricane, the tropical storm has now jumped in the jet stream and is racing to the northeast at around 35 mph.

The Caribbean lost more than $1 billion in tourism revenue after hurricanes deterred visitors during the costliest storm season on record, and recovery efforts could cost close to $6 billion.

Hurricane Bud weakened to a tropical storm off Mexico’s Pacific coast on Wednesday, the U.S National Hurricane Center said, adding that it should diminish further before hitting the Baja California peninsula late the next day.

Hurricane Bud continued to build strength Sunday west of Mexico in the Pacific Ocean as it threatened to potentially make landfall near the Los Cabos resort region by late week.

The destination says it wants to put travelers’ minds at ease and let them know they can book a getaway to the Cayman Islands and receive cancellation coverage in the event of a storm.