(Barbados Nation) Insurance companies in Barbados disbursed just about Bds$25 million in claims as a result of 1 700 claims reported due to Tropical Storm Tomas, which hit the island on October 30, 2010.
And the Department of Emergency Management (DEM) has reported that its Tomas Recovery Programme has been completed and was terminated on Thursday.
These highlights came out of a Press conference at the Warrens DEM headquarters to mark the beginning of the 2012 Atlantic hurricane season yesterday.
President of the General Insurance Association of Barbados (GIAB), Michael Holder, who disclosed the amount paid out, indicated that when evaluating claims, insurance companies discovered that properties were underinsured. He appealed to those insured under such circumstances to renew their insurance policies to ensure that they represented replacement costs.
