ST. GEORGE’S, Grenada, Fri. Nov. 19: The legal system or an arbitrator may have to settle quite a number of insurance claims relating to properties which were battered and destroyed by Hurricane Ivan here. Policyholders are complaining that they are not being fully compensated by insurance companies and this has triggered the Keith Mitchell government to establish a committee to investigate the matter. In most cases, policyholders are being told that their properties were underinsured and are being awarded a small compensatory package that cannot cover the rebuilding costs; the repair of vehicles or the re-opening of businesses. At Tuesday’s sitting of the Upper house, Senator Chester Humphrey told the House that he is spearheading the formation of the Grenada Homeowners Soliditary Trust. The objective, he said, is to ensure that insurance companies fully compensate homeowners for the damages done to buildings as a result of the hurricane which had pounded the island with winds of more than 130 miles per hour. The Ministry of Finance has also said there is a supervisor of insurance who policyholders can turn too to settle any policy disputes or differences arising between an insurer and a policyholder. Government, in a recent statement, called on that all persons who are currently experiencing difficulties rectifying or normalising their claim settlements with their insurance companies to visit the Insurance Office. Almost 90 percent of Grenada’s houses were damaged by Hurricane Ivan on Sept. 7. SOURCE: HARDBEATNEWS.COM