Hurricanes: 2017 was a busy year for insurance companies in the West Indies

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It's time for the 2017 balance sheet for insurers, a balance sheet marked by the devastating passage of hurricanes Irma and Maria in the Caribbean in September.

At the end of December 2017, insurance companies are able to deliver the overall figure for the damage caused by the two cyclones in the French Antilles.

According to the chairman of the Antilles and Guyana Insurance Committee, Loup de Fréminville, the damage amounted to 1,8 billion euros. 44 claims are in the process of being compensated or already compensated.

The cost is of course concentrated on the northern islands, Saint-Martin and Saint-Barthélemy hard hit by Hurricane Irma. The global damages amount to 1,7 billion euros. 22 claims files were recorded for the two islands.

For Guadeloupe, swept away by Cyclone Maria, the damage is estimated at 125 million euros, with 22 claims processed by insurance companies.

Some policyholders are not yet fully compensated. They were able to receive down payments. The compensation procedure took a long time to put in place. The experts had to wait to be able to travel to the affected areas in order to ascertain and assess the damage.

On January 18, the Antilles and Guyana insurers committee and the claims experts will meet in Guadeloupe to take stock and find solutions for the files still pending.

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