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Insurance Industry concerned over fire service apparatus

Dec 03, 2009 News

— as claim is paid out to DM Sales

 

A statement is likely from the insurance industry over concerns about the recent spate of fires.
Fire Manager and Director of Hand-in-Hand Fire Insurance Company, Howard Cox, made this disclosure yesterday even as he highlighted that the insurance industry has some serious concerns with the fire fighting apparatus.
He alluded to the fact that the fire service turned up at the last two Regent Street fires that occurred two weeks apart and were without sufficient water to undertake the task.
“Water is a necessity to fight a fire…You cannot put out a fire without water,” Cox asserted. According to him although the lack of water has let the fire service down, he is of the belief that the entity is made up of a dedicated group of individuals who are committed but are without the proper tools to undertake fire fighting.
“They will always be playing catch up and the industry is very concerned. I think we will put out a statement pretty soon,” Cox outlined.
The Fire Manager’s remarks were made yesterday as he handed over a full insurance policy claim to Mr Mokesh Daby, Managing Director of DM Sales and Investment Company which was razed on October 9 last.
D M Sales was one of the three Regent Street buildings that suffered fiery destruction on the same day. Within nine days of that fire another had occurred destroying a few more businesses along the same block.
This newspaper understands that the claim for the DM Sales building was $30M. The payout yesterday represents the first claim that has been honoured by Hand-in-Hand since the fires. According to Cox several claims are currently being processed for other businesses that suffered due to the fires. The Insurance Company is also working on processing a stock claim filed by Daby.
However, Mr Daby was able to secure his building claim through his association with M. P. Insurance Brokers, an entity which help to have its process with much urgency.
According to Director/General Manager of the Insurance entity, Mohamed Ali, “We did our job in the usual professional manner and we guided our client (Daby) and made him aware of the necessary requirements and he took the advice and we managed to negotiate with Hand-in-Hand.”
Daby in expressing gratitude yesterday said that he received much support through the processing period from Ali who kept him informed at every level. He said that support was also forthcoming from Demerara Bank.
DM Sales is currently operating from its old location and according to Daby who noted that the money received yesterday will cater to rebuilding of his company.

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