Date: November 25, 2003
Contact: Angela Johnson
Phone: 340-773-6449
angelaborchert@yahoo.com
LIEUTENANT GOVERNOR SETTLES HURRICANE HUGO CLAIMS
A dozen Hurricane Hugo claimants will receive checks this week totaling
more than half a million dollars, Lieutenant Governor Vargrave Richards
announced Tuesday.
As the territory's Insurance Commissioner, Richards is committed to
finalizing the liquidation of American Property and Casualty Insurance
Company (AMPAC), which became insolvent after Hurricane Hugo.
Lieutenant Governor Richards will utilize monies realized from a litigation
settlement reached by the Government of the Virgin Islands on behalf
of AMPAC's policyholders. The checks will be made available this week.
They represent final payments to 11 claimants and one creditor of AMPAC.
Payments range from $3,000 to $200,000 per claimant and total approximately
$500,000.
"In keeping with my commitment to improve the quality of service
to consumers, I am indeed pleased to release this much-anticipated debt
to claimants," the Lieutenant Governor said.
