NAGICO completes claim settlement with TelEm Group.

Pond Island:— NAGICO Insurances and the TelEm Group of Companies are pleased to announce that they have reached settlement in relation to the telecommunication company’s submitted claim following the passage of Hurricanes Irma and Maria last September – A final settlement cheque was presented to TelEm Group Chief Financial Officer (CFO), Mrs. Helma Etnel, by NAGICO Insurances CEO, Mr. Dwayne Elgin, during a brief presentation ceremony at the TelEm Group main building on Pond Island May 16, 2018.

The settlement process included negotiations between the parties, which began almost immediately after the initial hurricane passed, and also included an advance payment to TelEm Group by NAGICO Insurances to ensure that priority matters could be handled expediently by TelEm Group management and staff.

Addressing the matter during the presentation, Mrs. Helma Etnel, thanked NAGICO Insurances and its CEO Mr. Dwayne Elgin for the satisfactory outcome of TelEm Group’s insurance claim following the passage of the two devastating hurricanes.

“For us it was a learning process with much back and forth on several important issues. Thankfully we were able to work professionally and steadfastly while maintaining our respective positions to put us where we are today with a final settlement,” said Mrs. Etnel, also on behalf of TelEm Group CEO Mr. Kendall Dupersoy, who was on business off island when the final settlement check was presented.

The TelEm Group CEO however conveyed his own gratitude to NAGICO insurances expressing his thanks for the advance payment of funds prior to the final settlement.

“The first allocation allowed us to secure damaged buildings and central offices, save vital equipment and safeguard our service to the people of St. Maarten,” said Mr. Dupersoy.

He said TelEm Group will be putting the settlement amount to good use by ramping up repairs of the company’s telecommunication networks in various areas around the island.

“There is still a shortage of available materials in the region for these repairs, however we will continue to find innovative and creative ways to provide the essential telecommunication services our community requires,” said the TelEm Group CEO.

In making the presentation of the final claim settlement NAGICO Insurances CEO, Mr. Dwayne Elgin, said, “Communication is a critical part of everything we do in business and also in our personal lives. We are happy to have been able to assist TelEm with their restoration work through the provision of an advanced payment in the early stages of the process and now with the full settlement agreed upon and paid.

During the settlement presentation, CFO, Mrs. Etnel, praised TelEm Group Senior Financial Adviser, Marit Beihuizen, for her coordination of all aspects of the insurance claim from the outset with the support of Chief Technical Officer, Mr. Eldert Louisa and Managing Director of Smitcoms Ltd, in Curacao, Mr. Nelson Vinck.

Source: St. Martin News Network