Dear Editor,
While everyone is tightening their belts as the Prime Minister Silveria Jacobs suggests, no one is looking at some of the companies that will continue to earn as if nothing happened.
Insurance companies have not expressed any compassion. I paid the same bill for my insurance. I’m to be collecting a reduced salary yet have to pay the same bill. My car was parked for months. I should expect at least my car insurance should cost me less?
Our major insurance companies sit there quiet and continue to collect as we, the ordinary folk, collectively suffer.
They will claim, I’m sure, that property insurance has to be the same because if claims are made they have to pay in full. But I’m sure their profit margins on property insurance, after not having to pay out any major claims in the last two years, have the insurance sector buoyant.
Our government is touting cuts across the board. However, to the best of my knowledge the government has failed to address the need for the private sector to play their part. What is the profit margin of the insurance companies? Can they afford to cut rates for this year to 20 per cent?
Government so busy cutting our income they fail to address the reasonable fairness expectation of major companies to follow suit and help to cut our cost of surviving in St. Maarten.
Hoping to see a credit on my insurance bill or hoping the St. Maarten Government quickly realises they have to look into how to encourage the highly profitable private sector to pay their share.
Justin Ebenezer
