BIPA has Questions for the Prime Minister and Minister of Finance, Re: CLICO & British American Insurance

Members of the Barbados Investors and Policyholders Alliance (BIPA) are seeking answers from the Prime Minister and the Minister of Finance on a number of areas of grave concern to them. They want to know:

{FILE IMAGE} BIPA considers the level of disrespect and dismissiveness of the Prime Minister and Finance Minister towards the people they have taken an oath to serve and protect staggering in its magnitude.

  • Why is it that the Judicial Manager’s Report on British American Insurance Company (BAICO) was submitted to Government in November 2010 and no summary of the content, implications or next steps to be taken have yet been given to the thousands of policyholders who continue to pay their premiums in good faith, despite the fact that their claims continue to be unmet?
  • Do you really believe that the people whom you clearly consider an inconvenience will be satisfied with your platitudes and delaying tactics for much longer?
  • Is Barbados descending to a state where the Government keeps the people in the dark, under the guise of having their best interests at heart?
  • Now that EFPA policyholders of CLICO International Life Insurance Limited have been advised that all payments have been suspended until further notice, does the Government realize that it is teetering on the edge of a precipice into which it will be dragged by the tens of thousands of policyholders whose livelihoods are now destined for the scrapheap?
  • Are you aware that the people are close to having reached their limits of tolerance and patience, and are preparing to take action the likes of which have never been witnessed in this island?

Discussion of the alliance’s next steps will be high on the agenda when BIPA holds an extra-ordinary general meeting on Wednesday 27 July, 2011, at 6:00 p.m. at the Anne Johnson Memorial Auditorium, St. Gabriel’s School, Collymore Rock, St. Michael.

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