1998News

Are you insured for an earthquake?

The president of the Dominican chamber of insurance firms and underwriters, the Cámara Dominicana de Aseguradores y Reaseguradores, Luis Eduardo Guerrero alerted businesses to check for earthquake coverage in their insurance policies. He said that most businesses are insured for hurricanes and fire, but not for earthquakes. He also commented that there is much under valuation in coverage, which will impede businesses from being able to claim sufficient coverage for repairs when necessary. Guerrero said that the DR is receiving US$350 million from its underwriters due to damages caused by Hurricane Georges. He said that 40% of claims have already been paid.