Only six percent of residential homes are cyclone insured
September 29, 2018 4:43 am
Only six percent of homes around the country are cyclone insured.
Construction Industry Council Chief Executive, Vijay Naidu says a group consisting of an engineer, a designer, a surveyor and a lawyer have been tasked to look at ways and means to get more buildings insured for cyclones.
“We need to look at whether, why the number is 6 %, one reason could be maybe the cyclone insurance are too expensive for the average home owner, we need to look at whether it is, whether that’s the case, whether the houses are not compliant in order to get a cyclone certificate.”
Naidu says they are working on licensing all building companies first in order to quickly analyse companies who can issue cyclone certification.
He adds the task group is working closely with relevant agencies to help address the issue.