CCU Will Decide Whether or Not to Renew Cabras Insurance

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An explosion rocked Cabras 3 and 4 in late August of last year.

Guam – Meanwhile, an update in the Cabras 3 and 4 explosions as GPA management is currently reviewing whether or not to renew the current insurance with a higher premium, or re-bid the services.

CCU commissioner Simon Sanchez says that management is reviewing whether to extend the current insurance options under the existing one-year option that runs through November 2016. Sanchez says that the premium will be more expensive, but it will be fixed for two years. Sanchez says that GPA’s insurer has proposed new fees and terms and those are being reviewed. At an earlier CCU meeting, CCU commissioner Francis Santos brought up concerns about the insurer as well as GPA’s risk managers. Santos asked why the terms of the insurance policy changed even after the insurance agency, during a meeting last year in London, promised not to make changes if GPA agreed to renew their policy with them. Sanchez says the CCU will discuss the insurance renewal at the February CCU meeting.