NewsWhore
07-12-2006, 03:11 PM
Local insurance brokers have increased the cost of hurricane and earthquake insurance premiums by 30% to 50%, due in large part to the increased cost of the foreign reinsurance companies who cited the increased dangers of quakes and hurricanes in the Caribbean region. According to one source cited by Listin Diario, the cost of insuring a RD$12 million home on the coast has gone up from RD$96,000 to RD$144,000, a 50% increase. The foreign reinsurers cited the case of hurricane Georges in 1998, which took a US$900 million toll, 85% of which was paid back by the reinsurers. Current rates, starting on 1 July, are RD$12 per RD$1000 value of the structure.
Link To Original Article (http://www.dr1.com/index.html#8)
Link To Original Article (http://www.dr1.com/index.html#8)