Some 200 CLICO and BAICO policyholders dead since companies collapsed

Some 200 CLICO and BAICO policyholders dead since companies collapsed

Barbados Nation:-MORE THAN 200 CLICO and British American Insurance (BAICO) policyholders have died since the collapse of those insurance companies eight years ago.

And with hundreds more ailing, the Barbados Investors and Policyholders Alliance Inc. (BIPA) is appealing to Government to urgently expedite efforts to refund these people as promised.

Though acknowledging solutions for both CLICO and British American (BAICO) were seemingly in the final stages, BIPA president June Fowler said the organisation would continue to agitate to ensure promised deadlines were met, and the actions needed to expedite a final solution given the utmost priority.

“The judicial manager for British American has confirmed a date of 31st May, 2017, for the transfer of all qualifying policies to be transferred to Sagicor, and it is expected that the commencement of payments to policyholders will follow shortly after that date.

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2 Comments

  1. Anonymous
    February 9, 2017 at 7:38 am Reply

    Meantime what happens to the policyholders in Saint Lucia. What is the government doing to help us retrieve our money. Who is taking care of us. Who do we turn to. My retirement is with CLICO and so many others. This is so frustrating and so not nice.

  2. Anonymous
    February 9, 2017 at 8:14 am Reply

    Governments are the worst managers of social policy. The last Administration did nothing to help those of us who held policies with CLICO or who had invested in the company via the Executive Premium scheme. So don’t hold your breath now. You see how the commercial Banks screw up depositors, and how depositors have to run to the Credit Unions for some relief? Well, just now that will stop, because the Banks will put pressure on the Government to create a law that will prevent the Credit Unions from “under cutting” the Banks. So it will be the same “kaki pants” , whether you go to the Credit Unions or to the Banks. Big fish always eats all fish, and the Government is always a willing partner in this advantageous scenario. So much for help for the little man.

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