More needed to offset costs
The University College of the Cayman Islands received in May just over $300,000 as an insurance payment for Hurricane Ivan damage, the Legislative Assembly heard in answer to a Parliamentary Question posed by Leader of the Opposition McKeeva Bush.
In responding to the question, Minister of Education Alden McLaughlin noted that UCCI negotiated its insurance claim directly with Risk Management and that the Ministry was not involved in the process.
Mr. McLaughlin did explain why the settlement took nearly 20 months after Hurricane Ivan.
‘Unfortunately, the documentation initially submitted by the University College to Risk Management did not conform to the format required by Risk Management,’ he said, noting that the UCCI only submitted a suitable claim in November 2005.
‘The documentation was processed and following the subtraction of a $211,059.10 deductible from the total claim of $512,860.06, the University College received an insurance payment in the amount of $301,800.96 on the 9th of May 2006,’ Mr. McLaughlin said to the House.
Mr. McLaughlin noted that UCCI sent additional documentation to Risk Management on 26 May.
‘Risk Management is currently processing this request in order to determine whether a further payment can be made,’ he said.
UCCI President Sam Basdeo said Thursday the damage done by Hurricane Ivan was actually originally assessed at approximately $900,000 by loss adjusters.
‘We’re very glad right now that at least we received something,’ he said. ‘But we didn’t get the full amount based on the figures of the quantity surveyors of the insurance company.’
Mr. Basdeo explained the nature of the further claim.
‘We did a lot of the repair works ourselves,’ he said, noting that the labour expense for doing that work has not been taken into consideration.
He said he hoped UCCI would receive approximately $100,000 more in the end.
Mr. Basdeo said that most of the actually repairs on Hurricane Ivan damage have now been completed.
‘All that is left is some cabinets in the Biology and Chemistry labs,’ he said.
A contractor has already been selected to do the cabinet work during the summer.
‘It is our intention to have everything done by the start of the next academic year,’ he said.
Mr. Basdeo said he was down to his final two months before his retirement.
Mr. McLaughlin said the search for Mr. Basdeo’s successor is progressing and that four candidates have been short-listed.
One of those candidates is local and three are from overseas, Mr. McLaughlin said, adding that the three overseas candidates are schedule to arrive on the island for interviews this month.