Spokesmen for the Chamber of Dominican Insurance and Reinsurance Companies (CADOAR) told Hoy newspaper that the country stands to receive around US$700 million in insurance claim reimbursements following Hurricane Jeanne. Juan Garrigo, president of the CADOAR, said that more than RD$1 billion in claims were filed, however. On the positive side, he said the claims will generate a considerable flow of fresh cash receipts over the next three to four months, as hotels work to restore their properties. He said that major claims are being submitted by hotels in Bavaro and Punta Cana, some of which had two to three feet of sand deposited in their first-floor rooms. According to Garrigo, it is still too early to quantify the totality of the damages, but inspectors have been sent out to ascertain the damages and reconcile the claims. Nevertheless, he confirmed that damages caused by Hurricane Georges in 1998 were far greater than those caused by Jeanne last week. He said that most of those who sustained damages were insured.
A positive outcome of the destruction is that tourists arriving for the winter season will benefit from brand new installations at many of the properties. On the negative side, Garrigo said that insurance premiums for 2005 will rise to reflect the higher cost of insuring properties.