Gov’t settled for mere $11.4M on Admin Complex insurance
It was after Hurricane Irma on September 6, 2017, that the government headquarters housed at the Central Administrative Complex located in Road Town was destroyed leaving the frame standing, while some 75 percent of the physical files, chairs, desks and other office tools were also lost in the devastation, due to getting wet and scattered.
The Administration Complex is one of the few government buildings that is insured with Nagico Insurance, and the policy is believed to be for $32M.
After months of review, estimates and correspondence back and forth between the Smith-Administration and Nagico, the Government caved and settled for $11.4M. It remains unclear how much was the estimated claim cost put forward by the government for losses and damages.
At one point, Government considered hiring a public adjuster to help with the efforts, but it is our understanding that this never materialised.
Government had to fight on his policy too
“This was also a test of what most residents and businesses go through with their Insurance companies and if Government can’t get them handle how the ordinary resident will”, a senior civil servant told our newsroom.
In a press release issued today April 19, 2018 by the Government Information Service (GIS), they confirmed that “Premier and Minister of Finance, Dr The Honourable D. Orlando Smith, today accepted a cheque on behalf of his Government from NAGICO Insurance for a claim settlement following the damages to the buildings caused by hurricane Irma.”
However, no date was given for the start of the works, as civil servants continue to work at the building with makeshift offices, wires exposed, no air condition in certain areas, makeshift wooden windows and barriers and openly exposed roofing.
"We got out a cheque" - Government
Premier Smith noted that “Significant damage was done to the buildings which house our public officers, therefore, several departments were displaced as a result of this. The receipt of this cheque is timely and will help to improve our infrastructure with greater resilience and enable more effective and efficient Public Service,” according to GIS Spokeswoman, Jacqueline Archibald-Sylvester.
It is unclear also if the funds are enough to cover the cost of the building restoration. The landlord of the government Central administration Complex Permanent Secretary in the Ministry of Communications and Works, Anthony S. McMaster could not be reached for comments.
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46 Responses to “Gov’t settled for mere $11.4M on Admin Complex insurance”
This is a sell out!
I thought S..... left the country!
This story is all too common
I wondered about that.!!!!
Its just over a month until hurricane season and with so long to receive a cheque, do you not think its possible they were forced in to making a rushed decision?
Not surprised the dude won again
Ok. The Admin Building was insured for $32M but since the building was not a total loss, a $32M claim was not submitted. Was the $32M insurance policy at least 80% of replacement value (at least 80% of replacement value is needed to collect 100% on a partial lost). How much was the partial loss claim submitted? Why was the claim lowered, if so? Is the $11.4M enough to make the government/taxpayers whole? If no what is the actual repair cost and how will the delta be funded?
Moreover, if the allegation is true, why among the tens of government buildings only the Central Admin Bldg was insured? By default, government was self insuring, assuming the financial risk, for the other buildings. Nonetheless, government clearly does not have and didn’t set aside the resources for self insurance. Consequently, going forward, government needs to transfer financial risk to a third party. We should not hate the players; hate the game.
Government seem like they are good at squandering millions rather than negotiating in the best interest of the Territory. What a set of people.
You clearly do not know him very well!
You cannot have accurate news when you don’t get Nagico’s side on this matter. I’m not even sure if this is a “news site” as they claim it to be. And btw, some people who are commenting here act like they knew everything.
Nagico spending money and not afraid to say so. Why the others quiet. Proof is in the information. It is ok not to like Nagico but there is no reason to try and discredit them for doing their job. Common sense will tell you that if this was not a fair settlement, it would have done quietly.