Bahamas protects
CLICO policyholders
The Bahamian government has announced it will establish a statutory insurance guarantee fund following the financial problems of the CLICO insurance group.
Prime Minister Hubert Ingraham told parliament that the fund would provide protection to local policyholders in the event of the collapse of the local branch of the regional insurance company.
The fund will cover policies in force, except those of senior management.
Nassau secured a liquidation order for the local branch of CLICO after its parent company CL Financial ran into problems and was taken over by the Trinidad and Tobago government in January.
The liquidator has since been trying to sell the Bahamas branch but potential investors have been reluctant to buy because of a $42 million dollar gap between assets and liabilities.
Liat counts cost of sickout
Regional carrier Liat says it has lost over EC$350,000 (US$130,000) as a result of last week’s sick out by pilots.
A statement from the airline said the costs are related to among other things, accommodation, passenger claims, transport, meals and staff overtime.
Crews in Barbados, Grenada, St Vincent and Trinidad called in sick on Friday, leaving passengers stranded.
Criticism of Customs boss transfer
The St Lucia Civil Service Association (CSA) has hinted that a move by the government to transfer the Comptroller of Customs, will add further fuel to a public servants protest against the government.
CSA General Secretary David DeMacque has written to the governor general, Dame Pearlette Louisy, requesting her intervention.
The letter, which has been copied to the prime minister, raises questions about the transfer coming against the backdrop of a Customs investigation into two government Ministers – one for alleged evasion of customs duties, and the other for alleged misuse of duty free concessions.
Both Ministers have claimed innocence.
Four to sign EU visa waiver
Four Caribbean nations are to sign visa waiver agreements with the European Union on Thursday.
Antigua and Barbuda, Barbados, the Bahamas, St Kitts and Nevis and will join Mauritius and the Seychelles in initialling the agreement.
Citizens of those nations will in future be able to travel to most EU destinations without needing a tourist visa if the stay does not exceed three months.
