PHILIPSBURG–Insurance companies must better explain how they are handling claims following the destruction of monster Hurricane Irma and the added damage by Hurricane Maria, says United People’s (UP) party leader Member of Parliament (MP) Theo Heyliger.
The MP said he is prepared to call in all insurance companies to Parliament to get a first-hand explanation about the pay-out of claims and the hike in premium prices looming over residents and businesses.
“Not only are people struggling to get sufficient pay-outs from policies they faithfully paid for years, they are now told another storm will hit them – the insurance one,” said Heyliger.
People who have forked out large sums of money over the years and never made a single claim are told by insurers they are not covered for most basic things in their homes and businesses, the MP said.
“Adjustors and insurers have a job to do, but they cannot add more misery to the pot. It is clear people did not take sledgehammers to their homes and businesses. The damage is all hurricane caused,” Heyliger said.
The other part that must be explained by insurers is their reluctance to cover the aftermath of the looting, he said. “This caused damage and, yes, the government in place did not plan or prepare for this eventuality. The bottom line is it happened and the economy is worse off for it. Insurers need to realise when businesses, who are their clients, are back up and running, they as insurers also regain revenue.”
Source: The Daily Herald https://www.thedailyherald.sx/islands/70327-heyliger-calls-on-insurance-companies-to-explain-process