Gov’t receives $11M payout for Admin Complex
Hurricanes Irma and Maria caused considerable damage to the Central Administration Complex in Road Town. (BVI News photo)
Work is now set to begin on the Central Administration Complex to bring relief to public servants who have been working in the hurricane-ravaged structure, which is located in Road Town.
Work will start because government has received an $11.4 million payout from NAGICO Insurance.
A media release from government said the funds will be used to rehabilitate and improve the structure.
The release said while some public servants are still operating in the building, several others had to be relocated because their offices in the complex were severely compromised during the September 2017 disasters.
“The receipt of this cheque is timely and will help to improve our infrastructure with greater resilience and enable a more effective and efficient public service,” Premier Dr D Orlando Smith said on Thursday, April 19.
The Premier also thanked public officers who he said continued to make significant contributions to the territory despite their challenges.
He expressed his eagerness to see all departments housed under one roof, with improved operating conditions to ensure ease of access for the general public.
Premier Smith (second from left) receives the $11.4 million-cheque from representatives of NAGICO Insurance. (Photo provided)
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That sounds good but it will cost way more than that if that building is to be repaired properly and the air quality issues resolved.
Talk you nonesence. That money could build a complete New building with change. Typical BVI contracts. A shelter near Traulous Bay jetty cost 100 thousand and took 9 months to build. You people are so annoying. Hope the government give the contract to outsiders so they can save half to rebuild the fire station that does not have any insurance.
What I am wondering is whether the Government has learned its lessons, and will now requite all departments to keep their buildings and vehicles fully insured against similar risks in the future.
I doubt it.
Dock watch that money dont let the man get he hand on it
Let us hope that the money will not be wasted,but prudently spent.
how do you pay out an insurance claim for a building that was never insured tho? *scratching my head*
this tea is awesome btw.
It was insured.
You went school?
It insured from the time it build
@ Well Say, I know the administration building was not insured and am wondering the same thing.
what about the small man who still suffering?may god be with you s–n.
I thought the school children them said the building wasn’t insured…Glad they were wrong!!!!
I think it is the other way around. The Admin complex was the *only* government building that was insured. Every single other building (and vehicle, and piece of equipment) was left uninsured.
Come on Minister that’s way too little bit too fix that complex. Here we go again.
Was the claim satisfied satisfactorily? How much was claimed. I have difficulty jumping to conclusions without knowing that bit
Awesome. Must be the —- payout from Nagico!
Stick it in the cookie jar and I’ll be along shortly.
Question: who came out of the Irma insurance craziness looking worst? One company. That company was facing some serious issues with the Financial Service Authority in the year ahead for its mistreatment of car and homeowners.
And look now!
This is how you keep the government on side. Beat down the little guy so you have more in the pot to pay the big man.
If the FSC has any issues with any insurance carriers, they would take the necessary actions and impose fines or other restrictions and that information would be on their website. STOP misinforming the readers. Maybe the other insurance agents/brokers companies should be bold and state what what they are doing. Congratulations Nagico!!!!
Why do people feel the need to spread rumors or lies about others? Where are you facts of all you are claiming? A set of crabs in a bucket – never want to see another doing well. Why is it that other races does not do this to there own? That is why we will always be minority and controlled. Stop it!
Never insuring with —– again other insurance companies more expensive but fair in there pay outs .Goodbye —–.
It is in insurance companies DNA to be quick to collect and slow to payout, working over time not to pay out or reduce pay out. This is a broad brush statement but applicable to too many companies. Nonetheless, regulations must be put in place to narrow the gap between the consumer and insurance companies interest. A consumer protection agency and an insurance commissioner is a good start. What is not needed is another statutory body; there are enough/probably too many of these already. Some of them need to be dissolved and functions return to departments, ie, BVIHSA needs to be under a Health Dept……..etc.
Ok. The Admin Building was insured for $32M but since the building was not a total loss, a $32M claim perhaps was not submitted. Was the $32M insurance policy at least 80% of replacement value (at least 80% of replacement value is needed to collect 100% on a partial lost)? How much was the partial loss claim submitted? Why was the claim lowered, if so? Is the $11.4M enough to make the government/taxpayers whole? If no what is the actual repair cost and how will the delta be funded?
Moreover, if the allegation is true, why among the tens of government buildings only the Central Admin Bldg was insured? By default, government was self insuring, assuming the financial risk, for the other buildings. Nonetheless, government clearly does not have and didn’t set aside the resources for self insurance. Consequently, going forward, government needs to transfer financial risk to a third party. We should not hate the players; hate the game.
I consider it gross irresponsibility on the part of this government (and former ones) not to have seen it fit to insure buildings and vehicles. Lack of vision. Now our children especially are suffering.
Good job NAGICO! Despite the noise you continue to hold your ground and give back to the BVI community. Truly a community minded company. And as we can see financially stable – paying out US$ 11 Million. I have no doubts that my claims will be paid. I definitely will be keeping my business with NAGICO.
The Admin Building was insured for $32M yes but the building was not a total loss so why is there a need for the $32M payout? Maybe the damages were valued at $11M. We need to know the amount of the claim that was submitted before we pass any judgement, plus our government would have not accept if the amount was not fitting. I congratulate Nagico for the tremendous work they have been doing in order to help the recovery process.
What is the replacement cost of the Central Administration Building(CAB)? Is $32M the replacement cost? What is the estimated cost of the damages? Is $11.4M a reasonable repair cost for the partial lost? If the repair cost is higher, would the difference be funded? High forceful winds and heavy rain aside, what were the contributing cause of the damages, ie, poor construction, low wind load capability, little to no shuttering of openings, ie, windows and doors……etc?
Is it true that only the CAB was insured? Was government self insurance of other government buildings by design or just an oversight? Did government have a “fence” pot of money set aside for self insurance or it was intended to be funded as pay as you go? Is it in the best interest of the territory and taxpayers to either 1)self insure or 2) purchase property insurance? How much was the content insurance,if any, for the CAB?
I have a lease for 99 years on a government owned building that says they are responsible for keeping it insured,The building was destroyed in Irma and it was not insured as it turns out.
Is NDP Government is going to squander this $11 million dollars like they did with the $16 they borrowed to fix the roads? No value for money. Maybe one of the windows will cost a $1,000,000.00. lmao. Keep your eyes and ears open.