The gloves have finally come off, Beacon Insurance opened up to the media on their side of the dispute with Workbench Furniture over a 2012 fire claim…

Viewers may recall the print media has been subject to a number of advertisements claiming Beacon treated Workbench in a supposedly shoddy manner by apparently ignoring a claim over the destruction of their Spring Garden headquarters…

He explained before any motion towards settlement, how due diligence had to be undertaken and the entire claim had to be examined, and the reports which then emerged would probably have chased away another agency, yet Beacon still tried to be civilized on the entire situation. He stated the finacial solvency of Workbench may raise eyebrows in certain circles especially when no audited accounts have been undertaken since at least 2009 and the report from the Barbados Firse Srrvice indicated doors were locked at the scene of the blaze and accelerant was traced near the formation of the fire which The Fire Service is viewing as an unnatural event.

Mr Woodhams also said the image portrayed in the print ads for Workbench Furniture implied not just bankruptcy but loss of property, yet when the real estate ownership was examined – a new development emerged which, while questionable in itself, did not preclude Beacon from offering to provide a certain level of compensation that Workbench Furniture has chosen to ignore…

The property did not belong to Workbench and yet despite the many shortcomings, Beacon offered to provide a settlement by way of Interruption of Business, which they do cover – but this was not satisfactory to Workbench who chose to proceed with litigation.

Mr Woodhams also noted for last year alone Barbadians filed 1,200 claims which Beacon settled to the tune of 15 million Barbados dollars, many in 6 weeks or less.