Mr Prior said: We do have insurance for named storms which compensates us for replacement costs of damaged property, extra expenses and business interruption up to a net coverage of approximately million, but we believe total losses for these items will exceed this level.
Commenting on the quarterly results, Michael Prior, ATNs chief executive officer, said the company had been anticipating a year-on-year decline in its wireless revenues resulting from contractual pricing changes in its US wholesale wireless business.
It saw it wireless revenue decline as a result of the sale of its US wireless business in March.
Bermuda occupies an odd position in the communications and telecommunications world by having only one daily newspaper but numerous Internet Service Providers (ISPs), in its 21 square miles of total and area.
Internet availability, wired and cellphone (mobile) services in Bermuda are governed by the Bermuda Government's regulatory agency the Regulatory Authority of the Department of Telecommunications.
However, ATNs operating income excluding hurricane-related charges for the third quarter was $17 million.