Caribbean Insurers Limited (CIL) has paid out close to $200 million in insurance claims in the territory and is expecting to pay another $300 million.
Marketing Director of Caribbean Insurers Ltd (CIL) Simone Monsanto said those figures represent claims on properties, auto, and commercial insurance.
“We anticipated to pay out that amount,” Monsanto said in a recent interview on radio.
“I can say 95 or more of our clients are happy. You can never please everyone a 100 percent, so there will be a few and we are willing to work with them.”
She said some of who were unhappy and receiving settlements are underinsured residents.
Reasons for delay
Meanwhile, Monsanto said in some cases persons had to wait for lengthy periods of time to receive insurance payouts.
“They [clients] may say it’s a bit slow but this was not a regular hurricane, it was a disaster; so most of our processing could be a bit lengthy.”
“Also, we had to wait on clients to produce their documents before the adjuster can deal with their claims,” she added.
CIL‘s Marketing Director then assured clients their claims will get settled.
“If you are worried about your claims, just come in and one of our staff will assist you and will get the adjuster to you. Bear some patience, your claim will be paid.”
Several residents had criticized local insurance companies for dragging their feet during the claims process. Some also felt that they were being ripped off.
The British Virgin Islands was severely impacted following two category-five hurricanes last September.
More than 80 percent of the territory’s infrastructure was destroyed.
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