Insurance company to pay out more then US $250M to customers across region

Massy Insurance has received more than 1,000 claims from customers affected by Hurricanes Irma and Maria which struck in September.
Massy Insurance has received more than 1,000 claims from customers affected by Hurricanes Irma and Maria which struck in September.

BRIDGETOWN, Barbados – Massy United Insurance will pay out in excess of US$250 million to hundreds of customers affected by Hurricanes Harvey, Irma and Maria, which hit the Caribbean earlier this year.

To date, the company has received in excess of a thousand claims from clients with damage. As at mid-December, 80 per cent of these have been paid, with the goal to have the remainder settled by the end of this month.

The company, which operates in 18 territories throughout the region, saw customers in nine of its markets, namely Antigua, Anguilla, St Maarten, St Kitts, British Virgin Islands, Turks & Caicos, Bahamas, Dominica, Montserrat experiencing significant losses as a result of Irma and Maria.

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CEO of Massy United Insurance Randy Graham said the company’s claims officers and adjusters were on the ground almost immediately after the hurricanes struck to assess damages and soon after began to settle claims in those territories.

CEO OF MASSY UNITED INSURANCE RANDY GRAHAM

“In Dominica, for example, even though there was no light or running water, we opened our office so people could seek clarification on their claims,” he said.

“Speedy settlements are at the centre of the company’s customer centric approach and commitment to be a positive force in the region. Also, it shows Massy United’s role to lead the way in the insurance industry, especially in the area of responsiveness to natural disasters. We remain committed to serving our valued policyholders and helping them to rebuild and restore after any disaster. As a trusted partner, Massy will always be there for our customers and will serve them in a timely, efficient, and effective manner,” Graham added.

In the aftermath of Irma, Massy United Insurance had dispatched a team of representatives to the worst hit islands of St Kitts, Antigua and the Turks & Caicos, but they had to batten down and prepare for the onslaught of Maria. Within a week of Hurricane Maria’s destruction, the company deployed another team of representatives to Dominica to assist with the recovery efforts in that country.

“We were able to support these hurricane victims –  some of whom are Massy United agents – due to the efforts of our staff. We also provided relief supplies to victims, through collections and donations by other markets in which our company operates,” Graham said.

Source: Caribbean360: http://www.caribbean360.com/news/insurance-company-pay-quarter-billion-dollars-hurricane-affected-customers-across-region#ixzz5225hodGX

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