Ian Chinapo, head of Caribbean insurer Guardian Holdings Ltd., said that reinsurers could cover around four-fifths of the insured property damage caused by Hurricane Beryl, which is estimated at $500 million, Reinsurance News reported. Hurricane Beryl made landfall on the island of Carriacou in Grenada on July 1, as a Category 4 hurricane, causing total devastation. The insurer is taking a hit of $48 million before payment from reinsurers.
