Another
hurricane season is on and for some homeowners on the island
they are still angry with one insurance company for failing
to fulfill its financial commitment to them.
The homeowners
were insured with National Guarantee Insurance Company Limited
(NALGICO) and some of their homes are still seen with flapping
and dilapidated tarpaulins, as well as patched roofs.
These are
gentle reminders of the pain they have to go through due to
the failure of their insurer to pay their claims. Some of the
NALGICO clients whose homes were devastated by Hurricanes Ivan
in 2004 and to a lesser extent Emily in 2005, are blaming the
Office of the Supervisor of Insurance for non-payment of outstanding
claims to them.
The distressed
clients complain to this newspaper that the Supervisor of Insurance
has been "negligent" and failed to protect the General
Public by insuring compliance with the law of all insurance
companies operating on the island. They are annoyed that NALGICO
has been failing to fulfill its obligation and just leaving
them "in the cold".
A recently
formed group of policy holders of the insurance company held
a press conference on Wednesday to express their dissatisfaction
with the insurance company. The newly established group, presently
has a membership of approximately 26 and one of its spokespersons
is Brian Pitt who said that the number is rapidly increasing.
Pitt told
reporters that someone needs to come forward and accept responsibility,
pointing out that the Supervisor of Insurance, has some level
of responsibility for all that transpired. "The question
is whether or not she has in the case of this company, fulfilled
her responsibilities," he said. "Who is going to step
up to the plate and accept responsibility for this company which
has not been fulfilling its obligations to its clients?"
he asked.
Pitt who
lost 80% of his home said that all the concerned NALGICO policyholders
are trying to do is settle the matter "expeditiously".
One of his colleagues, Roland Walker who lost his entire roof
said that he had to utilize his entire life savings to carry
out repairs, "so I am cash-strapped".
Two others,
Patricia Bruno and Everard Antoine conveyed very similar sentments.
According to Pitt, the insurance company has not made any move
to meet with them since their homes were destroyed, nor have
they accepted their telephone calls or acknowledged receipts
of their letters.
Antoine
said hat the intention of the group is not to put down the insurance
company or local companies but "is just that we've
been let down and left in the cold". NALGICO was the centre
of attention last year after it was revealed that the company
was having extensive difficulty in paying its outstanding claims
to Ivan victims.
It was
during that period that government got involved in the issue
and had given the insurance company up to April 30, 2006 to
settle their claims. The date has expired and nothing further
was heard about the ultimatum.
The latest
press release issued by the Board of Directors and Management
of NALGICO, said that the company is continuing to make efforts
to have the outstanding claims settled in the shortest possible
time.
It went
on: "We have had some unexpected delays but are currently
in the process of finalising negotiations with a group of International
Investors who have indicated their willingness to make funds
available for this purpose. "We wish to advise our policy
holders and the general public, that as locally owned and operated
company, NALGICO remains committed to meet ALL its liabilities
and hope to do so in the very near future.
"We
thank our policyholders and the general public for their patience,
understanding and encouragement and look forward to again being
of service to all". The Supervisor of Insurance was not
available for comment on the issue.
However
when contacted in his constituency on Wednesday afternoon, Minister
of Finance, Anthony Boatswain told this newspaper that government
will have to meet with NALGICO to discuss the issue, but couldn't
say how soon.