Just about two months after the disastrous fire on RobbStreet which gutted two buildings and scorched another, one of the top insurance carriers in Guyana, Diamond Fire & General Insurance Inc, has today settled this relatively large claim for the insured, RNK Investments Ltd. This claim was negotiated for its full settlement through the insurance broker for the insured, Raj Singh Insurance Brokers. RNK Investments, which owns two of the buildings that were located at the corner of Robb and Camp Streets were completely destroyed by this fire, despite the valiant efforts of the local fire fighters during this unfortunate event in the wee hours of July 12th, 2015. Several hundred millions of dollars went up in flames on that fateful morning, which fire was deemed to have been caused by a leaky gas line in one of the buildings. The Guyana Fire Service performed an exemplary job in containing the fire to these 2 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.
Well known insurance broker, Raj Singh Insurance Brokers & Risk Management Consultants Inc. in its usual prompt and professional response to the needs of its clientele ensured a speedy settlement for its client. The Broker worked very closely with the adjusters from Trinidad during the course of their investigations on this claim. Both the client and the Brokers are extremely pleased at the swiftness and efficiency that the Insurer executed the settlement of this claim and trust that this should be the benchmark by which valid claims, that do not have any complications, are settled by all insurers. Insureds rely heavily on the integrity and good faith of their insurers and brokers, who act as their expert insurance advisors, to ensure that their valid claims are treated efficiently and to ensure that funds are promptly made available to guarantee a quick and complete restoration of the client’s business and its operations. In this case, RNK Investment Broker responded with little or no alacrity; worked side by side with the appointed adjusters of Diamond Fire & General Insurance Inc. to expedite the settlement this claim.
Diamond Fire & General Insurance Inc, through the efforts of Raj Singh Insurance Brokers & Risk Management Consultants Inc.’s qualified and trained staff, have officially paid the claim in excess of $70,000,000 today. This is truly a sign of the commitment, reliability and collaboration of Raj Singh Insurance Brokers and Diamond Fire & General Insurance Inc. and a reaffirmation of the strength of our Insurance Industry. There are still a few other claims outstanding from this fire with GTM, Assuria and a few other insurers which we anticipate will be settled in like manner very shortly.