Park Hotel co-insurers still investigating fire Seeking debris from police for testing Stabroek News October 31, 2000 The four dissenting co-insurers of the razed Park Hotel are still pursuing investigations to ensure that the claim by the Kissoon Group for losses is genuine. They last week informed the broker, P&P Insurance Brokers, that investigations were still being pursued with great urgency and as soon as these are completed the position of the co-insurers will be communicated. The claim by the Kissoon Group for $422M was adjusted to $379M by loss adjuster Peter Rees-Watkins but so far only three of the co-insurers have paid on this sum. These are lead insurer, GTM with 25% of the settlement, Caribbean Home Insurance Limited (10%) and Demerara Mutual Life and Fire Insurance Company, also with 10%. The outstanding payments are from the Colonial Life and General Insurance Company (CLICO), the Guyana Cooperative Insurance Service (GCIS), North American Fire Insurance Company Limited and the Hand in Hand Mutual Fire Insurance Company Limited. The basis of the dissent of the four co-insurers is that the police failed to test the debris of the May 6, 2000 fire to rule out whether arson might have been the cause of the conflagration. This is in light of the loss adjuster's report which confirmed that arson was suspected by a local fire inspector. The co-insurers are moving to retrieve the debris in the police's possession to have it tested but so far Stabroek News was told that they have not been able to secure it. There are concerns that these investigations may go on for a lengthy period. Rees-Watkins had pointed out that it would be futile to test the debris at the site of the fire once there was inclement weather. He had also indicated that once walls were breached, no evidence of arson could be linked to the policyholder. Police Commissioner, Laurie Lewis, could not say whether the debris was tested by the police but promised to find out. He also referred this newspaper to Crime Chief, Floyd McDonald who could not be contacted. The May 6 fire destroyed the hotel save for two floors on one of the wings. The Kissoons put in a claim for $422 million for losses but in the settlement arrived at with the adjuster appointed by all of the co-insurers, were awarded $343M for the loss of the buildings, $4M for personal effects and property of the guests and $32M for the contents of the hotel. Follow the goings-on in Guyana in Guyana Today