Bahamas First cuts Matthew loss estimate by 20%

Bahamas First has reduced its Hurricane Matthew loss estimate by
a fifth to $80mn, before reinsurance recoveries.
President and CEO Patrick Ward told local news provider
Tribune242 that the total had come down from original
estimates because fewer commercial and residential property owners
carried coverage against hurricane damage, or their coverage was
inadequate.
He said his company had received about 2,800 claims related to
the Category 4 storm.
Ward said the cost of insuring against hurrican