Hurricane Irma caused 17 claims on the island of Saint-Martin. The damage is estimated at 100 billion euros, 1,140% of which is for homes, 50% for professional goods (including 46 hotels) and 25% for cars.
At the end of March 2019, 78% of compensation (all claims combined) had been paid, i.e. 890 million euros, says the French Insurance Federation (FFA). A figure that should still increase but slightly according to the FFA. Today, almost all the insured have received their first share of compensation, that is to say the 75% owed by the companies regardless of the will of the insured to rebuild or not his property.
To receive the remaining 25%, the insured must provide invoices from professionals who have carried out the work. If the insured purchases the materials and repairs it himself, he does not receive the remaining 25%.
In Saint-Martin, it is now considered that few policyholders will be able to supply these invoices, which is why, according to them, the total amount paid by the companies should not increase enormously. What will increase it will be the invoices of the building sites of the condominiums, which have just started.
The FFA estimates that in the end, around 85% of the damage will have been compensated. A proportion lower than the national average which is more than 90%.
In theory, the insured has two years to rebuild his property and provide the invoices, that is until September 6. But given the exceptional nature of the phenomenon, the delay in the processing of files by the companies, the FFA ensures that waivers will be granted by the companies to their customers (on a case-by-case basis) to allow them to be reimbursed even in the event timeout.
On this subject, the member for Saint-Martin questioned the government in April. She thus asked the Minister of Overseas Territories to "kindly make the institutional actors concerned and the French Insurance Federation aware of this exceptional situation of Saint-Martinois, in order to extend for a period of six months, the period end of compensation for insured victims of Saint-Martin ”.
(Source: SoualigaPost.com)
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