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| Tuesday, 04 January 2005 |
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Most hotels to get due claims by Shirajiv Sirimane The insurance claims for most of the damaged star class hotels from the December 26 tsunami disaster would be met by insurance companies. According to Deputy Chairman John Keells Susantha Ratnayake insurance agents have already visited all their damaged properties. "Beach Hotel Beyroo, Beruwela, Coral Gardens Hikkaduwa, and Club Oceanic, Trincomalee have been badly damaged. In addition our resort, Hakuree in the Maldives too has suffered heavy damage," he said. He said that insurance agents have already visited these properties and an assessment had been done on the damage. "We had a meeting with them last evening," he said. The Bentota Beach Hotel has already commenced operations while some of the other damaged hotels would open soon. "However it would take about six months to open our property in the Maldives," he said. He also said that some of their hotels have been insured for business interruption and consequential loss covers as well. "However, none of these hotels has been damaged from the tsunami disaster," he said. An insurance expert in the Travel industry said that the Insurance covers for most of the hotels would be paid under Earthquake insurance and not under flood cover. "The insurance companies would first assess the route cause of the damage and in this instance it was the earthquake in Sumatra which originated the tsunamis," he said. He said that hotels not covered for earthquake would be helpless as far as insurance is concerned. "It is likely that insurance companies would consider paying an ex gratia payment for the other affected hotels," he said. He said that only a handful of Hotels in Sri Lanka have been insured for business interruption and Consequential loss covers. "This is because the premium for this is very high," he said. If hotels were insured for this cover they would have received a sum equal to the income which would have been generated during the time of the closure of the hotel. Director Marketing Jetwing Hotels, Lalin De Mel said that they are insured under the earthquake cover and already Eagle Insurance has agreed to meet their claims. "Yala Safari Game Lodge has been razed to the ground while Blue Water, Wadduwa and Light House Hotel, Galle too were damaged. Eagle Insurance officials inspected these three properties and have agreed to meet our claims," he said. In addition all employees who lost their lives too would be financially compensated. |
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