Digicel said to prepare up to $50m Hurricane Irma claim
Significant part of Digicel’s Caribbean network suffered damage as result of Irma
Denis O’Brien’s Digicel telecommunications group is reportedly preparing to make up to a $50 million insurance claim for damages.
Denis O’Brien’s Digicel telecommunications group is reportedly preparing to make up to a $50 million (€42.2 million) insurance claim for damages caused to its network and property across several Caribbean islands as a result of Hurricane Irma last month.
The final claim, payable by a number of specialist insurers in London, is expected to come to between $45 million and $50 million, the Insurance Insider reported on Thursday.
A spokesman for Digicel declined to comment on the amount. However, the group said last month that its insurance is expected to cover the cost of damage occurred, subject to customary deductible.
A significant portion of Digicel’s network in Anguilla and the Turks and Caicos Islands (TCI) in the Caribbean suffered “extensive damage” as a result of Irma, the company said at the time.
It also said that the markets impacted by the hurricane represent 3 per cent of the group’s revenue.
Mr O’Brien set up Digicel in 2001 with a mobile licence in Jamaica. It now operates in 31 markets in the Caribbean, Central America and the Pacific islands.