The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

Ex-deputy prime minister, Philip Davis, yesterday said the Opposition welcomed probes into the allegations of wasteful spending by the Christie administration, but warned against wasting resources on a "political witch hunt".

Mr Davis, speaking at an Opposition press conference, agreed to "let the chips fall where they may", asserting that the Minnis administration should "stop whining and complaining and get on with the business of governance".

He sought to provide further insight into the former administration's decision to cease paying the annual $900,000 premium to the Caribbean Catastrophe Risk Insurance Facility (CCRIF) . Dr Hubert Minnis told Parliament on Tuesday that the former administration's action had resulted in the Bahamas losing out on a $32 million insurance payout, money that was much-needed in Hurricane Matthew's aftermath.

Mr Davis, though, said CCRIF had rejected the Bahamas' damages claim over Hurricane Joaquin in 2015, as the ferocity of that storm - and wind speed Category - had not met the mandated speed to trigger a payout. The fact that the damage sustained was due to flooding, and not wind-related, was another factor cited.

Former state minister for finance, Michael Halkitis, said following Hurricane Matthew's passage last year that the then-government had ceased the annual premium payments because the Bahamas would only have received compensation in the event of a Category Five hurricane.

Mr Davis yesterday confirmed that, acting on the advice of a technical committee, the Christie administration had decided to discontinue payments into the fund.

"Up to that time, the Bahamas had been paying premiums in the tens of millions of dollars and had not been able to unlock anything," he said. "The Government agreed that self-insurance would be the best route."

Mr Davis added that following Hurricane Matthew, CCRIF had written to the Government suggesting it may have qualified for a payout. However, the technical team advising the Government held the view that the Bahamas would not have qualified.