Important update for BAICO & CLICO Policyholders
Important update for policyholders of British American Insurance Company Limited (BAICO) and Colonial Life Insurance Company Limited (CLICO) Policy Holders Group, with the acronym BACOL.
After 15 years of perseverance, BACOL significantly advances the pursuit of financial justice for Policy Holders in Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia and St. Vincent and the Grenadines.
These policyholders have suffered extreme financial loss and hardship after the 2009 collapse of the British American Insurance Company Ltd.
A press release in the St Vincent Times newspaper states that the company’s failure resulted in losses of over EC $800,000,000.00 (Eight hundred million Eastern Caribbean Dollars) to businesses and individuals.
On Monday April 29th and Tuesday April 30th, 2024, lawyers representing BACOL’s Policy Holders, including those in Montserrat will make representation to the Caribbean Court of Justice, in this historic quest to obtain equitable treatment for the close to 2000 registered Policy Holders across the Organization of Eastern Caribbean States (OECS).