Petrol Alliance Group Responds to Insurance Concerns

Concerned neighbors also brought up the issue of insurance, worried that the proximity and nature of the development would make it difficult for them to get coverage for their properties. However, Leslie reassured them, saying he met with all seven local insurance providers, and none of them had any objections to insuring properties near the proposed fuel depot site.

 

On the phone: Mark Leslie, Director, Petrol Alliance Group Holdings

“Throughout the entire country of Belize, we only have seven providers and I contacted and reached out to them and each of the individuals that I spoke to within those organizations had mentioned to me that there is no issue with them issuing insurance to anybody, especially, and I, of course, gave them the area and I told them about the project and they again reassured me that that should not be an issue.  The worst case scenario, from my understanding is, and I am not saying that that location is, however, the worst case scenario would be that they would take it on a one-on-one basis and maybe go and inspect wherever they were if it was in an industrial area or some place that they would consider hazardous, and they would still try to give that person insurance.  I’m not, again, categorically, I am not saying that our location is, I am just saying that this is an overall policy from the companies.  They would still try to give you insurance, what may be affected if they considered or deemed some place hazardous or a heavy industrial zone is that they may look at either higher premiums or higher deductibles, but it would not be denying anybody insurance coverage.  I also went to the higher authorities, which is, I believe, the insurance secretary of the country of Belize and their offices also told me that should any one of the seven deny insurance to anybody that that person or individual or group or entity may apply to the secretary of insurance who may then allow them to get coverage from outside of the country.  You’d prefer a provider from maybe the US because the people, I understand, are ex-pats from the US that are concerned about the insurance.  Should those seven Belizean entities decide that it is too high risk, they may then still go the Secretary of Insurance who may, at that point, give them permission to get coverage from outside.  Now, again, categorically, I am not saying that our location is, I am just trying to find as much information so that I may share it with residents and try to satisfy their concerns.”