At least $7-10 million in building value was wiped out by the Valentine’s day fire, which devastated the offices of Betty K Agencies and several surrounding buildings, according to one insurance specialist, and the destruction should serve as a reminder of the value of fire insurance.
Chairman of the Bahamas Insurance Association Timothy Ingraham told Guardian Business yesterday that, without knowing the specifics of each of the properties damaged by yesterday’s fire, there are many factors which come into play in assessing damages and compensation for insured parties. He stressed the value of fire insurance generally, as fire often leaves only devastation in its wake and los ...

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