BVI Sets Up Tribunal To Mediate In Insurance Disputes
by Mike Godfrey, Lowtax.net, Washington
16 January, 2018
The British Virgin Islands' Government has announced the creation of a new insurance claims tribunal.
The creation of the tribunal follows last year's hurricanes, and is intended to address concerns and complaints of islanders navigating their way through the insurance claims process.
According to Premier Orlando Smith: "There is an urgent need to get claims processed so residents can rebuild their homes and have safe housing for those that are still displaced, and for commercial properties to be restored to bring back services that have been disrupted."
The tribunal will receive and investigate reports from insured persons who are unhappy with an insurer's insurance claim decision, and will mediate disputes with the objective of reaching an amicable settlement between the parties.
Where the insurer and the insured are unable to reach an amicable settlement the tribunal will advise an insured of their options.
The British Virgin Islands' Government says the tribunal will remain active until Premier Smith notifies it has completed its mandate.
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