The so-called questionable insurance payouts local insurers gave to property owners after the September 2017 hurricanes are to be assessed if the Virgin Islands Party (VIP) becomes the next government, party chairman Andrew Fahie has said.
While speaking at a VIP political event in Capoons Bay on Saturday, Fahie said: “We will provide the avenue to audit all insurance settlements relating to the devastation caused by Irma and Maria; paying particular attention to the scam word ‘underinsured’.”
Underinsurance is a term used when a person is said to have inadequate insurance. Insurance providers are accused of using the term as a ploy to give small-percentage payouts to their clients whose properties were damaged or destroyed during the disasters.
Fahie said he will ensure such reported practices are not repeated once his party is made to become government.
“If a next disaster hits, insurance companies will pay people their money,” he said.
As for outstanding claims leveraged against the territory over the years, Fahie said: “[A VIP administration] will bring amicable settlement to the millions of dollars of claims against the government. Government must learn to act responsibly.”
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