***The Metropole fire is not seen as costly as previous blazes with no one quite sure whether or with which company the cinema was insured. There was extensive damage to stocks at Chetsons. NAFICO was offering coverage to the CNS building and is now assessing damages. Guyana & Trinidad Mutual Fire & Life Insurance Company (GTM) has exposure to a minor extent for one building in the area.
***On November 13, 2003 a fire caused by a falling utility pole destroyed Royal Castle, Mohamed's Enterprise and Auto Supplies Co, on Lombard St. The insurance companies that had exposure are GTM, GuyFlag, United Insurance Company and NAFICO. Mohammed's was paid $35M by GTM for damage to the building and was up to July still holding out for $40M for damaged stocks.
Royal Castle received close to 100% of what had been claimed while Auto Supplies is still negotiating. Total exposure has been estimated as high as $700M.
***In late December, another fire destroyed the Muneshwers Ltd building on Water St. A chartered loss adjuster was retained by GTM, NAFICO, United Insurance and GCIS to carry out investigations as to what caused the fire. There are no estimates although Muneswhers has complained that it received substantially less than it claimed.
***Eight businesses were gutted on April 9, 2001 when fire was set to Kissoon's Furniture City at Robb and Camp Streets. The Kissoon building was co-insured by a number of companies with GTM carrying 40% of the total $200 million payout. The other insurers were Diamond Fire and General Insurance Inc ($40M), Caribbean Home Insurance Co and the Colonial Life Insurance Co.
GTM also paid out for damage to Archie's Electrical and the National Bank of Industry and Commerce. Hand-in-Hand paid $30.79M to R Sookraj and Sons after the matter went to arbitration.
***The Park Hotel fire of May 9, 2000 was costly but was spread among seven companies. These were Colonial Life Insurance Company (CLICO); Hand-in-Hand Mutual Fire Insurance Company Ltd, North American Fire and General Insurance Company Ltd and the Guyana Cooperative Insurance Service Inc, GTM, the Caribbean Home Insurance Company (CHIC) and Demerara Fire and General (DFGI). The seven insurers had drafted in international claim adjusters from the Axis Eastern Caribbean Ltd firm which had recommended that Kissoon's be paid a settlement of $379.6 million. Under that settlement, Clico, NAFICO and HHMFL were to pay $56.9 million (15 per cent) each, while GCIS, CHIC and DMGI were to pay $37.9 million (ten per cent) each. GTM had to pay the largest sum totalling $94.9 million (25 per cent).