Opposition Leader Concerned About Delay In Resolving CLICO/BAICO Issues
The Leader of the Opposition, the honourable Paul Lewis has expressed his concern about the delay in resolving the CLICO/BAICO issue.
Mr. Lewis noted that no clear timeline was given by the Monetary Council at their recent meeting in St. Kitts.
The Council received a Report from the Core Committee on Insurance.
The Committee is charged with advancing efforts to bring resolution for ECCU Policyholders of the failed insurance companies – British American Insurance Company Ltd. and CLICO Life Insurance Ltd.
Mr. Lewis says that Montserratians had invested millions of dollars in both companies before they collapsed.