PINL:VITFF - Post by User
Comment by
HoneyBadger77on Oct 05, 2024 2:24pm
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Post# 36254622
RE:Interesting comment from OCT 1st PWC report
RE:Interesting comment from OCT 1st PWC reportAnd other interesting detail in the PWC report is comments regarding potential insurance coverage on Pages 18 and 19 of the report, items q & r:
https://pwccan.sharepoint.com/sites/CA-Sdcbfe97db34e42a6b5007673cd8ca2ab/Shared Documents/C. CAR/300. Reporting & Deliverables/330. Court Reports/Report 1 - Work/VGC - Draft First Report of the Receiver - Sept. 30 The comments on
Page 19 in item r. ii. would seem to suggest that VG insurance may include at least "limited pollution liabilty policies".
Obviously VG has some form of insurance or the Receiver wouldn't be meeting with the adjusters and technical experts regarding the "Cause Anaysis" of the "Failure Event".
The question of whether VG had any type of insurance for the collapse has been raised on this board in the past but until now it seemed that VG probably had no insurance for a collapse / pollution related event. Now it seems possible that some limited form of inusrance may actually exist subject of course to the actual cause of the collape which to date is either yet to be determined or has been determined but not yet publicly disclosed.
On
Page 25, item 58 (c), VG's insurance boker is listed as being Toronto based
"Purves Redmond Limited".
Environmental / Pollution Liability - Purves Redmond Limited This will be an interesting development to watch for in the coming PWC report updates and you can bet that the insurance provider will get down to determining the actual cause and liability before they'll pay out on any claim.
HB77