Hon. Edwin Astwood issues a statement that homeowners in the TCI are being blindsided
The Leader of the People’s Democratic Movement, Hon. Edwin Astwood has released a statement that homeowners in the TCI are being blindsided by underinsurance or no insurance on their properties.
In particular, on the islands of Grand Turk and Salt Cay, residents woke up to the reality that their houses are underinsured. They are being blindsided by terms like rate of replacement, reinsurance, average clause, underwriting the market rate for goods and services, and replacement value.
Many of our people are being told by the adjusters working for the insurance companies that their property is undervalued and/or underinsured. Hence the value of their claim will have to be greatly reduced due to those aforementioned factors.
Some persons expressed that they are also being told that the cost for labor and materials submitted by them are not at market rate, which is almost always lower than the amount in the claim. They also stated that they are being told which businesses they can solicit for quotes on the cost of labor and materials.
The experience of seeking a payout from insurance companies has been a stressful, disappointing, and eye-opening experience for many homeowners. Many expressed the feeling of being grossly uninformed and lacking needed knowledge about their insurance policies, especially those who got insurance through their banking institutions.
A common mistake that some homeowners make is not to insure their property for the full replacement value, thus creating the issue of underinsurance, and as a result, if an insured peril causes damage to the home or its contents are stolen, the claim may be subject to the application of the average clause.”
Insurance data points out that many homes in the Turks and Caicos are underinsured, with there also being many homes uninsured. That should be a major concern for the Government, the homeowners, and for the insurer, especially given that risks from climatic events such as hurricanes and flooding become more adverse annually.
The Leader states that Should the Turks and Caicos Islands experience a direct hit from a major hurricane, the uninsured and underinsured will experience a crippling financial loss, which in turn worsen the social and economical position of many of our people and communities.
Multiple Cases of Hand Foot and Mouth Disease in the Turks and Caicos Islands
The Ministry of Health and Human Services of the Turks and Caicos Islands (TCI) first issued an alert to the general public about suspected cases of Hand Foot and Mouth Disease (HFMD) on 12th October 2022. Since the initial cases were identified in Providenciales, multiple reports have since been reported from 8 educational institutions.
The latest cases were reported as of November 1, totaling 21 cases since October 1, 2022.
The MOH in partnership with the Environmental Health Department has conducted outreach to schools throughout the islands to educate students on the importance of hand washing and proper hygiene to prevent the spread of this and other communicable diseases.
In addition, the MOH has developed a guideline that focuses on the prevention and control of communicable diseases among children in childcare and educational settings which has been disseminated to schools throughout the TCI by the Ministry of Education.
HFMD is a contagious viral illness that primarily affects infants and children younger than 5 years old. Symptoms include some or all of the following; painful sores in the mouth, rashes on the hands and feet which may be associated with blisters, fever, headache, feeling generally unwell or irritable, runny nose, and/or sore throat.
It is mostly a mild and self-limiting illness lasting for a few days. There is no specific treatment for hand-foot-and-mouth disease. Symptoms are controlled by the use of paracetamol (Panadol or Tylenol) for fever and pain relief which is often necessary.
Persons with suspected HFMD should abstain from school and report to a healthcare provider to obtain guidance, including when to return to work, school, or daycare.
Seven Stars Resort Community Foundation Raising Funds for SNAP Centre…
The Seven Stars Resort Community Foundation, which has been in existence for more than nine years, is still working hard to raise money each year to help the SNAP Centre.
Over the years The Seven Stars Community Foundation has provided renovation and refurbishment after hurricane Irma in 2017, supplied furniture, monthly maintenance of the property, construction of their farm, secured windows and provided security lighting, supplied iPads, and construction and maintenance of a computer room.
This year’s fundraising will go towards a sensory room. A sensory room is a therapeutic setting with a range of tools that offers students with special needs tailored sensory input. It aids the children in calming down and concentrating so they are more equipped for learning and social interaction.
An auction was started to raise this year’s funds for the center on Monday, November 7th, and will end Friday, November 11th at 1 pm.
Crypto giant FTX collapses into bankruptcy
Embattled cryptocurrency exchange FTX has filed for bankruptcy in the US, seeking court protection as it looks for a way to return money to users.
Former boss Sam Bankman-Fried has also stepped down as chief executive, the company said.
It is a massive turn of fortunes for the 30-year-old, who had headed the world's second-largest crypto exchange.
In just over a week, his FTX empire has collapsed, shaking confidence in the already troubled crypto market.
"I'm really sorry, again, that we ended up here. Hopefully, things can find a way to recover," Mr. Bankman-Fried, nicknamed the 'King of Crypto', wrote on Twitter on Friday.
"I was shocked to see things unravel the way they did."
Prior to the meltdown, Mr. Bankman-Fried had been one of the stars of the crypto scene, drawing comparisons to investment magnate Warren Buffett, with a net worth estimated at more than $15bn (£12.8bn) as recently as Monday.
But rumors earlier this week that FTX and other firms owned by Mr. Bankman-Fried were on shaky financial ground prompted a mass of customers to try to withdraw funds from FTX, an exchange used to buy and sell digital tokens.
Facing a cash crunch, Mr. Bankman-Fried tried to organize a bailout but that failed, leaving FTX scrambling to raise billions of dollars and many customers unable to access their money.
By filing for Chapter 11 bankruptcy, the company can continue operating, while restructuring its debts under court supervision.
FTX said the goal was to "begin an orderly process to review and monetize assets for the benefit of all global stakeholders".
"The FTX Group has valuable assets that can only be effectively administered in an organized, joint process," said new chief executive John J Ray III, a lawyer who previously worked at a venture capital firm and has experience with high-profile bankruptcy cases.
In the filing, FTX estimated that it had between $10bn and $50bn in assets and liabilities and more than 100,000 creditors.
The proceeding involves FTX as well as Alameda Research, a trading firm founded by Mr. Bankman-Fried, and roughly 130 affiliates, according to the statement FTX shared on Twitter.
Those include FTX's operations in the US, which Mr Bankman-Fried had said on Thursday were unaffected.
Mr Bankman-Fried said "this doesn't necessarily have to mean the end for the companies or their ability to provide value and funds to their customers chiefly, and can be consistent with other routes.
"Ultimately I'm optimistic that Mr. Ray and others can help provide whatever is best".
For now, Thomas Culham, from Kingston, said he has been unable to withdraw the £2,000 he had put into FTX - a "big blow" as his funds in FTX were a "decent chunk" of his investment portfolio.
Source-BBC
Republicans yet to land knock-out blow on Democrats, it's still early says voters
At least so far during the 2022 midterms, Republicans are doing well enough - but not great.
In governors' races, high profile Republicans have won in Florida, Texas and Georgia - but two governor's seats were flipped to the Democrats.
The Republicans only had to flip five seats in the House of Representatives to win a majority there, and they appear to be on track to do so.
But they aren’t winning all the toss-up races, and they aren’t landing any surprise knockout blows. This isn’t shaping up to be the kind of "wave" election Americans have seen in many past midterms.
In the Senate, the results are even more unclear. Republicans have carried states in which they had the advantage, but Democrats have won the races they expected to win and picked up a crucial new seat in Pennsylvania.
How remaining tight contests – in Georgia, Nevada and Arizona are resolved – will go a long way toward defining how these midterms are ultimately viewed.
Democrat John Fetterman is projected to win the crucial Senate race in Pennsylvania, flipping a Republican-held seat.
The tattooed 6ft 8in (2m) left-wing Democrat is a Harvard graduate turned small-town mayor.
He had a commanding lead over celebrity TV doctor Mehmet Oz in the Pennsylvania race until he suffered a stroke a few months ago that forced him to stay out of the public eye. A halting performance in a debate in the closing stages of the race saw polls narrow significantly to within the margin of error.
Earlier tonight, Democratic Georgia Senator Raphael Warnock took the stage at his election night party in Atlanta and urged his supporters to keep their spirits up.
“I just wanted to drop by, because I’m coming back tonight,” Warnock said. “We’ve got more to say.”
Election results are trickling in and show Warnock and his Republican opponent, Herschel Walker, running neck and neck.
“Georgia is showing up in such an amazing way,” Warnock said, later adding, “we always knew this race would be close.”
The outcome of the election in Georgia could influence whether Democrats continue to control the US Senate, making this race a must-watch until the end.
The fight for control of the Senate remains up in the air, with races in eight states yet to be called
Democrats also held on for victory in Senate races in New Hampshire and Washington, while Republicans survived challenges in Ohio and North Carolina
Florida Governor Ron DeSantis won re-election by a landslide 1.5 million-plus vote margin, stoking further speculation the Republican may run for president in two years' time
Republicans also won governor's races in Texas and Georgia against high-profile Democratic opponents
Democrats flipped two Republican-held governor's seats in Massachusetts and Maryland while beating back challengers in Pennsylvania and New York
This is still a developing story, we will have more later from our affiliate the BBC on RTC.
Curry's 47-point takeover delivers Warriors a needed win
Stephen Curry had never been happier about a win in the 11th game of the regular season than he was about the Golden State Warriors 116-113 victory over the Sacramento Kings on Monday night.
Coming off a five-game losing streak, the Warriors considered this to be as close to a must-win game as possible this early in the season.
Their win largely came down to the latest Curry takeover, in addition to some timely 3-pointers by Andrew Wiggins down the stretch.
Curry finished the night with a game-high -- and season-high -- 47 points on 17-of-24 shooting, including 7-of-12 from 3, eight rebounds, and eight assists. He scored 17 of his points in the fourth quarter. Curry is the first player to record such a stat line and has no turnovers since turnovers were first tracked in 1977-78, according to the Elias Sports Bureau.
"It was very [2022] Game 4 of the NBA Finals to me. He just wasn't going to allow us to lose," Draymond Green said. "Take that with a grain of salt because I'm not saying this game was as important. But you know when to get out of the way. It was one of those times where he was taking over."
Curry's dominance has been desperately needed by Golden State through the early portion of the season as it navigates defensive struggles and an unproductive bench. But Curry insists the weight he is carrying for his team is not a burden.
"We have to understand that [the young players] are all going to get an opportunity to perform, and there are going to be some struggles -- some really high highs, and some really low lows," Curry said. "That's the story of this team. As vets, you understand every year is a little different and you are ready for that challenge. For these young guys to try to find themselves in this league and also a specific role, it's challenging."
Curry has scored at least 30 points in eight of the 10 games he's played, becoming the third player in franchise history to do so alongside Wilt Chamberlain and Rick Berry.
So far, Curry has made 53 3-pointers this season, the second most through a player's first 10 games of a season -- trailing only his record of 59 from the 2018-19 season.
"Steph was just breathtaking," Warriors coach Steve Kerr said. "He's obviously one of the greatest players of all time, and he plays so well on so many nights. But this even seemed like something special for him."
Curry played 38 minutes against Sacramento, as did Klay Thompson. Green added 36 minutes, and Andrew Wiggins played a game-high 40. Kerr said because those four players sat out against the New Orleans Pelicans two nights ago, and the team desperately needed the win, he felt comfortable "chasing this one with heavy minutes" for the starters.
Source-ESPN
Sloop Intercepted by Marine Branch
Reports coming in this morning that the Royal Turks and Caicos Islands Police Force last night intercepted an illegal vessel and taken to South Dock where 140 migrants were taken to the Detention Center…
The Minister of Immigration and Border Services, Arlington “Chuck” Musgrove continues to monitor closely the situation in Haiti which is a driving force of illegal migration.
Measures currently put in place to address an influx of irregular migrants into the islands are:
Reviewing detention capability and capacity in all islands of the TCI
Increasing presence both aerially and at sea in collaboration with international partners to further secure the borders
The Shipriders initiative with the Bahamas
And stiffer penalties for those caught breaking the Immigration Laws…..
Persons that have any information of unusual movement or information in regards to illegal migration are asked to contact 911 or the Immigration Intelligence unit at 649-338-4415
Condé Nast sues Drake and 21 Savage for using fake Vogue cover to promote new album, Her Loss
Ahead of the release of their collaborative album Her Loss, Drake, and 21 Savage hyped fans with a promotional campaign that included teasers of a fake Tiny Desk appearance, as well as a fraudulent cover story on Vogue magazine. While some praised the pair for their creative marketing plan, the promotional magazine cover resulted in a lawsuit against the rappers.
Billboard reports Condé Nast's lawyers filed a lawsuit against Drizzy and 21 over the “deceptive campaign," which it deemed a “flagrant infringement” of the company's trademark rights. They claimed the rappers exploited the “tremendous value that a cover feature in Vogue magazine carries," as their post was not "authorized by Condé Nast.”
Drake and 21 Savage's fake Vogue cover, shared on Instagram last week, led fans to believe a story was on the way. “Me and my brother on newsstands tomorrow!! Thanks, @voguemagazine and Anna Wintour for the love and support on this historic moment," Drake captioned the post.
In a complaint to the New York federal court, Condé Nast doubled down on its claim that the post went up without their consent.
“Vogue magazine and its Editor-in-Chief Anna Wintour have had no involvement in Her Loss or its promotion, and have not endorsed it in any way,” the company’s lawyers wrote. “Nor did Condé Nast authorize, much less support, the creation and widespread dissemination of a counterfeit issue of Vogue, or a counterfeit version of perhaps one of the most carefully curated covers in all of the publishing business.”
Condé Nast's lawyers argued that the counterfeit cover caused confusion among fans as it provided "no indication that it is anything other than the cover of an authentic Vogue issue.”
They're asking the judge to issue an immediate injunction that blocks the use of the counterfeit cover.
Source-ABC
Cryptocurrency market rocked by near-collapse of exchange
The digital assets market has been rocked by the near-collapse of one of the world's biggest cryptocurrency exchanges, FTX.
On Tuesday, FTX struck a bailout deal with larger rival Binance after a surge in withdrawals triggered a "significant liquidity crunch".
Concerns about FTX's financial health reportedly triggered $6bn (£5.2bn) of withdrawals in just three days.
Under a non-binding agreement, Binance will buy FTX's non-US unit.
FTX's founder Sam Bankman-Fried and Binance's chief executive Changpeng "CZ" Zhao are two of the most powerful people in the cryptocurrency market and high-profile rivals.
The pressure on FTX came in part from Mr. Zhao, who tweeted on Sunday that Binance would sell its holdings of FTX's digital token, known as FTT.
"Due to recent revelations that have come to light, we have decided to liquidate any remaining FTT on our books," he said. FTT has lost almost 80% of its value this week.
On Tuesday Mr. Zhao tweeted, "This afternoon, FTX asked for our help. There is a significant liquidity crunch".
Also on Twitter Mr. Bankman-Fried said: "Our teams are working on clearing out the withdraw backlog as is. This will clear out liquidity; all assets will be covered 1:1."
The news sent shockwaves through the digital assets market, with cryptocurrencies falling sharply.
Bitcoin fell by more than 10% to hit the lowest level since November
2020.
Meanwhile, online trading platform Robinhood lost more than 19% of its stock market value, while cryptocurrency exchange Coinbase fell by 10%.
Source-BBC
Elon Musk sells almost $4bn of Tesla shares
Tesla boss Elon Musk has sold another 19.5 million shares of the electric car maker worth $3.95bn (£3.4bn), filings with the US financial watchdog show.
The news comes less than two weeks after the world's richest man completed his $44bn takeover of Twitter.
Tesla's share price has fallen by more than 50% since the start of this year.
Separately, Tesla is recalling just over 40,000 of its vehicles in the US because of a potential problem with their power-steering.
The reason for the latest sales, which took place in the last week, has not yet been disclosed.
The latest sale brings the total value of Tesla shares sold by Mr. Musk to almost $20bn since he announced earlier this year that he had bought a stake in Twitter.
He sold $8.5bn of Tesla stock in April this year and around another $7bn worth in August.
Also in August, Tesla shareholders approved a three-for-one stock split, which is behind part of the fall in the value of the shares.
On Tuesday Tesla recalled just over 40,000 of its cars in the US because of a potential power-steering problem.
The electric car manufacturer said the vehicles' power-steering assist system may fail on rough roads or after hitting a pothole.
The National Highway Traffic Safety Administration said it could require greater steering effort, especially at low speeds, increasing crash risks.
Tesla has released a software update to recalibrate the system and added that they are unaware of any injuries or deaths in connection with the problem, it said.
Source-BBC