Christopher Henriques and Ron Hughes, directors of the Association
of Grenada Insurance Companies (AGIC), were invited to join the
fortnightly meeting to discuss ‘lessons learned’ over the past 15
months and new housing strategies for the future.
The meeting took place on November 24 at the ARD Board Room, with
representatives of the ARD, USAID, Housing Authority of Grenada (HAG),
French Red Cross, GR3, Crisis Shield, the National Disaster Management
Agency (NADMA) and UNICEF.
The AGIC Directors informed the meeting that of the 30,000 plus
buildings in Grenada, not more than 6,000 claims were received by the
industry following Hurricane Ivan. Since Ivan, however, more people are
insuring their houses and lending institutions have become more
vigilant regarding insurance on mortgaged properties.
“Ivan has changed the mindset of a lot of people,” Mr. Hughes noted.
Although more home owners are conscious of the importance of
insurance, the rates are expensive. Increases in natural disasters in
the Caribbean Region and other parts of the world have placed bigger
burdens on insurance and re-insurance companies, causing increases in
rates. Ideas for incentives were discussed at the Meeting, including a
rebate on property tax and the concept of group or pooled insurance for
wooden structures.
It was agreed that in order to avoid duplication and minimise
discrepancies in the distribution of assistance, all data relating to
housing from the HAG, USAID, the Red Cross and non-governmental
organisations involved in housing should be compiled at the ARD.
It
was also agreed that in order for the Grenada Building Code to be
enforced, it must be enacted in law. Additionally, the Physical
Planning Unit needs strengthening. In this regard, the ARD is
facilitating a review of the Physical Planning Act and an update of the
Building Code Regulations.
The ARD, in collaboration with the Government of Canada and the
Canadian Institute of Planners, is also providing two physical planners
for the Physical Planning Unit in early 2006.