Digicel reportedly planning US$50mn Hurricane Irma claim

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Thursday, October 12, 2017

Jamaica-headquartered telecom firm Digicel is reportedly planning to file an insurance claim of up to US$50mn for property losses stemming from Hurricane Irma.

Irma ploughed through the Caribbean last month.

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"Tokio Marine Kiln is the leader on the property direct and facultative placement, the remainder of which is placed broadly in the London market," Insurance Insider reported, citing unnamed sources.

Digicel is present in about 30 countries across the Caribbean, Central America and Pacific islands.

Anguilla, Barbuda, the British Virgin Islands, St Martin, St Barts and the Turks and Caicos Islands were Digicel's most affected markets, Digicel Group communications head Antonia Graham told BNamericas at the time. The company deployed a team of 200 engineers and riggers to undertake the required network restoration work.

A Digicel spokesman was not immediately available for comment on the Insurance Insider report when contacted by BNamericas.

Catastrophe modeling firm Karen Clark & Company has estimated overall insured losses from Irma will total US$7bn.