NUKUALOFA, Tonga (Matangi Tonga, November 30) – Damage estimated at TOP85.53 million [US$42 million] dollars was incurred by Nuku'alofa businesses who were not insured against riots, while some 678 jobs had been lost, Tonga's Minister of Labour, Commerce and Industries stated today.
Reporting the results of an Assessment Survey of 144 businesses whose business premises were damaged during the November 16 riot, the minister, Hon. LIsiate 'Akolo, said that while the total estimated costs of damaged businesses amounted to TOP117,325,248 [US$57.5 million], only a few had insurance coverage for riots.
The report stated that 96 businesses or 75 percent were either not insured against riots, or not insured at all. Only eight businesses or 6 percent had riot coverage, while the rest were uncertain of their insurance status.
Of the 144 businesses damaged, 33 enterprises were owned by Chinese or naturalized Tongans of Chinese origin.
The minister pointed out that...