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Donovan Moxey, chairman of Bahamas Power & Light Ltd., said that the company has reached a settlement with its insurer over a September 2018 blaze that destroyed two of its engines at the Clifton Pier power plant, Eyewitness News reported. While all of the company's assets were fully insured, the coverage did not include the transmission and distribution network, which will cost more than $50 million to replace.