• Today
    October 22

  • 12:44 AM

$20 000 in hand

TRE GREAVES, tregreaves@nationnews.com

Added 12 June 2019

reslife-resolution

Minister Ryan Straughn (right) and chairman of ResLife, Tony Hoyos (left), talking with some of the people in line yesterday. (Picture by Tre Greaves.)

DECADE-LONG CRIES were replaced with smiles yesterday as hundreds of policyholders in collapsed insurance company CLICO finally got their hands on the money.

The offices of ResLife in Worthing, Christ Church, were abuzz, as relieved former policyholders filled out paperwork which saw most of them getting an initial $20 000 as promised by Government.

Minister in the Ministry of Finance Ryan Straughn promised if another insurance company were to collapse, it would not take ten years for its policyholders to be reimbursed.

“We are looking at what will become a resolution framework, where if a financial institution fails, that there is a very precise action that is taken in a timely manner to make sure the fallout isn’t as long or protracted as the case of CLICO in Barbados,” he said. (TG)

Subscribe now to our eNATION edition for the full story.

For the latest stories and breaking news updates download the Nationnews apps for iOS and Android.

whatsapp-alerts-bloc

JOIN THE DISCUSSION

Dos and Donts


Welcome to our discussion forum here on nationnews.com. We encourage lively debate, but we also urge you to take note of the following:

  • Stay on topic – This helps keep the thread focused on the discussion at hand. If you would like to discuss another topic, look for a relevant article.
  • Be respectful – Meeting differences of opinion with civil discussion encourages multiple perspectives and a positive commenting environment.
  • Do not type in capitals – In addition to being considered “shouting” it is also difficult to read.
  • All comments will be moderated – Given the volume of comments each day, this may take some time. So please be patient.
  • We reserve the right to remove comments – Comments that we find to be abusive, spam, libellous, hateful, off-topic or harassing may be removed.
  • Reproduction of comments – Some of your comments may be reproduced on the website or in our daily newspapers. We will use the handle, not your email address.
  • Do not advertise – Please contact our Advertising Department.
  • Contact our Online Editor if you have questions or concerns.
  • Read our full Commenting Policy and Terms of Use.
comments powered by Disqus

POLL

Should the current age of retirement (67 years) be increased?

Yes
No

FRONT COVER OF TODAY'S NEWSPAPER

CARTOON

INSTAGRAM