PUT THE MONEY where your mouth is.
That, essentially, is what the Barbados Investors and Policyholders Alliance (BIPA) wants Government to do to resolve the British American Insurance Company Ltd (BAICO) saga.
BIPA’s statement came on Friday following a notice from KPMG, the judicial manager (JM), last Sunday that it was ready to move to the next stage in the legal process required to implement a solution which would see Sagicor providing ongoing insurance coverage and security to BAICO policyholdersfor the future.
In that notice the judicial manager said: “Before a final agreement between the parties can be reached and the JM can seek the court’s approval of the solution, the level and manner of the potential financial support from the Government must be confirmed. In this regard the JM has been in continuous discussions and negotiations with key Government officials from the Ministry of Finance and Economic Affairs” and had provided reports and information requested.
