Insurance companies ready; property-owners told to claim

Insurance companies in the British Virgin Islands have promised to start the claims process for its clients – whose businesses, homes and other properties were damaged or destroyed by Hurricane Irma – by next Monday, September 18.

“Collectively, the insurance companies in the Virgin Islands are confident that we will be able to address claims and are working together to start the rebuild of the Virgin Islands,” said President of the Insurance Association of the British Virgin Islands, Ruth Phillips; following a meeting with Premier Dr D Orlando Smith this week.

“We commend the Premier for meeting with us and we are ready to do the work to support the rebuild of our community,” Phillips added.

Premier Smith met with representatives of Mutual Insurance, NAGICO Insurance, Creque’s Insurance Agency, Colonial Insurance, Mutual Insurance, Alphonso Warner Insurance Agency, the Insurance Company of the West Indies, and Caribbean Insurance Limited which has already started its claims process.

According to a media release from Premier Smith today, the insurance agency’s “have gotten confirmations from their reinsurers that they are also confident that they will be able to honour claims. Premier Smith affirmed to the agents that his Government will work with them to ensure their offices and staff will be ready to accept, and quickly work on claims.”

The release also said that the insurance companies have agreed to have a unified process for filing claims.

Persons filing claims will be required to complete a claim form, provide a detailed damage estimate from a reputable contractor (inclusive of quantities and costs), and provide photos of damaged property. Insurance agents are also encouraging property owners to do what is needed to preserve the value of their property.

Premeir Smith, in the meantime, said: “I would like to encourage all property owners to work closely with their insurance agents and quickly file claims so we can restore the Virgin Islands to the pristine and scenic landscape we have all come to know and enjoy.”

“I also ask that residents to exercise some level of patience as well. Hurricane Irma has thrusted all of us into a new era in the Virgin Islands and we will need to be patient and supportive of one another as we work together to return our islands to normalcy.”