Trinidadian management consultant Osborne Nurse has advised Barbadian financial regulators to be more intrusive in the operations of large financial conglomerates to avoid a repeat of the CLICO debacle.
Asserting that confidence in the local insurance sector would not return until the CLICO matter was resolved, he urged that a final resolution of the CLICO International Limited (CIL) portfolio be “determined and implemented sooner rather than later”.
The expert warned that uncertainty still surrounding the issue “does not contribute to improving public confidence in the industry”.
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