Arbitration Panel rules in favor of PJIAE, upholds close to USD$ 72 Million hurricane Irma claim against Nagico. | SMN News

Airport:— An arbitration panel consisting of arbitrators appointed by PJIAE, Nagico and the Court of First Instance of Sint Maarten has ruled in favor of the Princess Juliana International Airport (PJIA) in settlement of a USD 71 Million insurance claim against the company’s principal insurer, NAGICO. Under the terms of the arbitration ruling, PJIAE is awarded a principal claim (excluding interest) of USD 71, 864, 341 including the US$ 58 million that Nagico has already paid out to PJIAE in an advanced settlement.

The ruling was handed down on Wednesday, August 14th, 2019, and the total awarded is more than

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