The H Lavity Stoutt Community College (HLSCC), which became insured 37 days before Hurricane Irma, has still not received an insurance settlement for the extensive damage it received during the category-five storm nearly a year ago.
The college has a $31 million insurance policy with NAGICO Insurances.
The state-owned educational facility received a little more than $10 million worth of damage from the hurricane.
“No settlement has been arrived at yet but the discussions are ongoing,” said Education Minister Myron Walwyn, who claimed he is ‘not sure’ why the college still has not arrived at a settlement some 10 months later.
“There are a number of issues. I think many of us who would have been dealing with the insurance companies know, pretty much, there ends up being some measure of negotiations where both parties (the insurer and the insured) are satisfied. I know the board of governors [at HLSCC] will do their best to ensure the college gets what they consider to be a fair settlement,” he said.
Walwyn was answering questions in the House of Assembly last Thursday, July 19.
Though not yet arriving at a settlement with the insurance company, HLSCC had received a million-dollar advance from NAGICO not long after the hurricane.
Walwyn said the $1 million sum was so the college could start its recovery process “to ensure it was functioning to a minimum acceptable standard”.
HLSCC, which recently held its 2018 graduation ceremony, was able to begin classes by October 23.
Copyright 2021 BVI News, Media Expressions Limited. All Rights Reserved. This material may not be published, broadcast, rewritten or distributed.