Multi-million dollar insurance settlement for Camp and Robb Sts fire

Last Updated on Thursday, 8 October 2015, 11:37 by GxMedia

Two months after a fire that destroyed two buildings at the corner of Camp and Robb Streets, the owner has received an insurance settlement of GUY$70 million, according to the insurance broker.

Raj Singh Insurance Brokers says the payment was made in favour of RNK Investments Limited from Diamond Fire and General Insurance Inc.

Describing the claim as a “full settlement,”  Raj Singh Insurance Brokers said there are several other claims associated with that fire with Guyana Trinidad Mutual (GTM), Asuria and a few other insurers “which we anticipate will be settled in like manner very shortly.”

Raj Singh Insurance Brokers echoed the findings of the Guyana Fire Service that the early morning fire on July 12, 2015 was caused by a leaking gas line in one of the buildings. The buildings had housed a bond and store for a Chinese entity, a Chinese restaurant and a small take-away snackette.

The brokerage credited fire fighters for their valiant efforts. “The Guyana Fire Service performed an exemplary job in containing the fire to these two buildings only and managed to ensure that lives and surrounding property were saved and a major catastrophe was averted. The City Mall building was scorched and some of their air conditioners were also damaged,” said Raj Singh Brokerage and Risk Management Consultants in a statement.

The broker said the settlement signaled “a reaffirmation of the strength of our insurance industry.”

Greenheart piles have been already moved to the vacant lot, a sign that a high rise building would soon be constructed there.