Colonial Receives Around 200 Claims So Far
It could be weeks or even months before the final cost of Hurricane Gonzalo is known as claims continue to come in, according to one of the Island’s leading insurance companies.
The Colonial Group opened for business on Saturday morning and since then has seen about 200 claims, mostly for damage to homes.
Paul Brierley, Colonial’s Executive Vice President, Property and Casualty, said, “We had approximately 100 claims yesterday [Oct 20] and we are continuing to process them as quickly as possible.”
Hurricane Fabian was the most recent comparable storm and caused about $300 million in damage.
However Mr Brierley said: “It is far too early to say what the final cost of Gonzalo will be. The damage is still being assessed.”
Mr Brierley added, “Some people suffered very severe damage, but I think we all thought Gonzalo was going to be much more serious. Many people were obviously very well prepared.”
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