March 04, 2010
Update from the vrs Regional Director for Latin America

Latin America | Chile
vrs RTS International

Update on the situation in Chile from Javier Guardia, vrs Regional Director Latin America:

There is extensive, severe damage to buildings in Concepción. The authorities have imposed a curfew from 6 pm to 12 pm. Many buildings have been evacuated and residents may not return until the buildings have been inspected and declared safe.

In Santiago the main damage was to access routes and highways in and out of the city. Roads and bridges have collapsed, restricting transit and communication in the city.

vrs RTS Chile are now handling more than 200 claims - 50% domestic and 50 % industrial, commercial, hospitals and educational institutions. vrs RTS Chile have also been instructed on a number of vineyard claims.

An advisory issued by the National Association of Insurers provided a loss estimation of USD 2,600 million, but some local Insurers do not agree with that estimation and think that total losses will probably be higher, reaching USD 5,000 or 6,000 million. Local and global insurers continue to assess the situation and to distribute work among the different adjusters now in place.