Paria Company Insured For Incidents Such As Diving Tragedy

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Paria Company Insured For Incidents Such As Diving Tragedy

Paria Fuel Trading Company  is properly insured for incidents such as the February 25th 2022, tragedy which claimed the lives of four divers.

However, the company is required to take the advice and guidance of its insurers, in order to benefit from the coverage.

This is one of the update given by the Office of the Prime Minister following Wednesday’s meeting held with the families of the divers involved in the tragic incident at a facility owned by Paria.

The meeting was held at Whitehall.

It was revealed the shareholders of Paria would want this matter to be resolved quickly but not in a manner that would be reckless, and affect insurance coverage.

The Prime Minister said while he cannot interfere in this process, he has made it clear to Paria that he wants it concluded quickly and fairly.

Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister, Stuart Young and Attorney General and Minister of Legal Affairs, Reginald Armour S.C. also accompanied the Prime Minister to the meeting.

Meanwhile, the Office of the Prime Minister reveals it has been advised correspondence has been exchanged between attorneys for two of the families and Paria/insurers since February 2023 and correspondence was received last month from attorneys for one other family.

The Prime Minister has been further advised no figures have as yet been exchanged between the parties and Paria/Insurers have recently requested information from the initial two families which touch and concern details surrounding employment by LMCS and earnings.

This information is crucial in arriving at a proposed figure for any without prejudice discussions with respect to settlement, that information is not yet forthcoming.