Nation e-Edition

‘Empty’ promises

‘Empty’ promises June Fowler. (FP)

Sat, November 24, 2012 - 12:07 AM

Barbadians are just getting “empty” Government “reassurances” and slow action from a judicial manager while other Caribbean policyholders in the failed Trinidadian-based British American Insurance Company (BAICO) and CLICO appear in line for a Christmas bonus.

Head of the Barbados Investors and Policyholders Alliance (BIPA), June Fowler, levelled this charge yesterday. She was reacting to St Vincent and the Grenadines Prime Minister Dr Ralph Gonsalves’ announcement that more than $200 million had been sourced to make payments to Organisation of Eastern Caribbean States (OECS) policyholders.

Fowler, whose association represents 35 000 policyholders, said that in the case of BAICO the Barbados Government had proven “ineffective” and the judicial manager “slow-moving”.

She complained that the most heard from Government was “a series of empty reassurances, the latest of which is a meeting 'sometime next month' with finance ministers of the region, some of whom are clearly already way ahead of Barbados and proving their skills and abilities by actions rather than words”. (SP/CMC)

Please read the full story in today’s SATURDAY SUN, or in the eNATION edition.

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Posted by Orange Peel 1 year, 8 months ago
I wonder if the minister of finance knew about these developments in St Vincent and the Grenadines before he issued that " so urgent call" on the ministers of finance of the varying countries to meet him in Barbados. This so call to be planned meeting is just to make the policy holders of Barbados feel that the Barbados government is doing something, when in actual fact they are doing nothing. How can the governments of Trinidad and Tobago and St Vincent and the Grenadines arrive at a decision which is being acted upon for their policy holders but the government of Barbados is waiting on them to sort out what to do with theirs?
What kind of cat and mouse game is being played on the Barbadian policy holders?
Does the game begin with an "E" and involves an"V"?
This Clico / Baico issue has been going on for a very long time and the unfortunate policy holders that were not able to take their money from the company before it collapsed ( because of bad management by the company and the failure of the supervisory body to do what it was supposed to do) are now being given empty promises with no details.

The minister of finance should take a leaf out of the books of the ministers of finance of St Vincent and Trinidad and start acting and stop talking. It was not so complex for these two islands to start action.

Will we continue to be the "Land of talkers with no action"?

  • 2
Posted by Pan Wallie 1 year, 8 months ago
Deck the Court with boughs of holly
Not the season to be jolly
Dorn we now our bitter redress, tra la la....
Time to make a citizen's arrest, TRA LA LA......

Sorry, no money for royalties, CLICO TOOK IT ALL...

  • 0
Posted by Tech King 1 year, 8 months ago
We are in this present state because some persons
are not held accountable in Barbados.Let us waite and see if poicyholders in the OECS are paid,because
the truth has become foreign to many of our leaders.

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