St. George’s, March 2, 2011 (GIS) – Caribbean leaders, who recently met in Grenada, have agreed to the establishment of a Health Insurance Fund to be used to help citizens of the regions who lost their investment in the troubled British American Insurance Company (BAICO).
The BAICO situation and the collapse of the Trinidad-based CLICO have left thousands of people without medical and other insurance coverage.
The BAICO/CLICO matter forced a trade union-led picket when the heads of CARICOM met in Grenada on February 25 and 26, and it was one of the subjects of discussions by the political leaders. Prime Minister Denzil Douglas of St. Kitts & Nevis described it as a matter of “critical importance.’’
CARICOM Chairman, Prime Minister Tillman Thomas of Grenada, told reporters that there is cooperation among the countries of the Caribbean Communities to assist in finding a resolution to the BAICO/CLICO situation in the interest of those who invested in the companies.
Prime Minister Douglas said although the Fund will address regular policy holders with BAICO, annuities and investments still need to be sorted out.
He also assured policy holders of CLICO that they have not been forgotten. Click the link below for audio clips.
http://spiceislanderphoto.com/audio/2/caricom-leaders-audio-clips