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2010
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November
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- Heineken Backs ARC Again
- Community pon de Remix - LIME Soufriere Kindness Day
- Back To School With Karib Cable
- St.Lucian roots to help ‘Star of David’
- SANDALS REMAINS COMMITTED TO LOCAL CRICKET
- Sammy takes Charge of West Indies ODI squad agains...
- SAB to host women’s football final
- Rain forces postponement of Grassroots Festival in...
- New Track and Field President for SLAA
- Clean Sweep by Dennery All Blacks
- SSDF Brings Learning Home to Students
- Saint Lucians to ‘Chart d’ ARC’
- Saint Cecilia seen on Mary Ann Street
- NSDC Collaborates With C.A.R.E. And Rise Saint Luc...
- Bar president sheds light on lawyers
- Unexpected Expectation
- The calm after the storm
- National Arts Festival
- Is Gonzalves Going Power Mad?
- Big Business, Small Politics
- 2010 National Festival of Carols
- 1000 Words
- World AIDS Day – Importance of Standards
- The Conway Relocation Project
- SPOTLIGHTING FRENCH ASSISTANCE
- The dawn of peace
- Pope Benedict and the Condom Controversy
- “Faith is the evidence of things not seen” Hebrews...
- Tourism Veteran Anthony Bowen gets recognized
- Memoirs of Fond St. Jacques
- Dreams
- Celebrating St. Cecilia’s Day 2010 Feast of Musici...
- St Lucia Distillers wins More Awards for its World...
- Miss SLHTA 2010
- Digicel group wins at the World Communications Awa...
- Digicel Little Brothers and Sisters receive relief...
- Tips for a good appearance on a date
- The lookout for a Local fashion icon
- Self explanatory expressions
- “Edward 4 Education” : Claudia “The Diva” launches...
- Dealing with relationship Issues
- A world for an emo
- Keys To Financial Success
- Saint Lucia Needs All Hands On Deck!
- Keys To Financial Success
- If competition is good for business, why isn’t it ...
- Market Watch
- ECFH Financially Speaking
- Daily Markets Wrap Up
- WINDIES PRINCESSES TOUR INDIA
- Swimathon at RHAC today
- St. Lucia New Home for Int’l PGA
- OECS Swimming Championship Still On
- National Football Today
- Jetsetters and Dig Set Point 2010 Volleyball Champ...
- Football: Grassroots festival today
- What a Wick: the last 7 days in 19 (November 20th ...
- TOMAS and other storms - Part1
- The Evolution of trust
- Some Helpful Tips When Travelling This Christmas S...
- Local UWI Alumni Chapter Moves To ‘Adopt’ Bexon Sc...
- Countdown to SALCC Graduation 2010
- 100 and counting
- Is Haiti Existing within a Forgotten International...
- Community Empowerment and National Mobilization.. ...
- Canada can do more for the Caribbean, so can the C...
- BRITISH AMERICAN UNDER PRESSURE
- A charitable donation
- Taking a Beating?
- ECFH Agreement with National Commercial Bank (SVG ...
- LIME Remixes the Community – First Stop Soufriere
- The Soufriere Foundation Joins Forces To Re-build ...
- Professor Emeritus and UWI pioneer dies at 88
- Association of Baptist Churches Assist Tomas and F...
- Sharks in aid of Tomas victims
- OECS Saints top ECVA Olympic Qualifier
- National Football Resumes after Tomas
- “ALL TO HELP THE YOUNG PEOPLE”
- Threats
- The UN Secretary-General - Message on the Internat...
- Politicians, Past and Present
- Hurrah Baywalk.....but!!!
- American Airlines Announces Specials to Saint Luci...
- The Day the Music Died
- Work Gets Under Way On The Daher Building!
- WATER QUALITY ISSUE
- St Lucia Resorts Share Optimistic Forecast
- Rose-Hill Youth Caught with Firearm
- Super J Supermarkets – corporate partner of Diabet...
- Oaktreez Inc presents think Saint Lucian
- “Life, Sandals Style
- Stanley French memorial / tribute ceremony
- Courts Lends a Helping Hand to the People of Soufr...
- Business as usual at Saint Lucia’s Coco Palm
- Rising Stars and Avengers Desruisseaux Champs
- More success for local swimmers
- Digicel Sets Sail For Arc 2010 At The Flotilla
- ARC: 233 Yachts on their way to St.Lucia
- 25TH FLOTILLA A SUCCESS
- The Village…Anse -La Raye
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November
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10 comments:
This is unaccceptable in the extreme. Is British American and/or CLICO still in business? Are they still selling policies and if so on what terms? Do they have the approval of the Government to do so? If the answers to these questions are "yes" then aren't these Governments sanctioning the equivalent of a ponsi scheme?
My wife lost her life-time savings in British American after faithfully paying premiums. Nearly a year after her policy matured she has not been able to collect her savings. For months before the collapse of BritAM became public, she was given the bullock by staff of the company who must have known the company was in strife.
It's very hard for Caribbean Governments to evade claims of massive neglect in this situation. They let us down. At this stage, policyholders shouldn't have to deal with agents of British American or CLICO .I am perpared to join others in taking whatever legal action is necessary to get the Governments to accept their collective responsibility for this mess.
Cletus
Its about time that the rest of the caribbean people/countries get Trinidad out of our affairs. There is too much of a trade imbalance where it involves Trinidad. Trinidad is the head office of many regional businesses especially insurance companies and they bleed the rest of the caribbean. They treat the insurance agents like dirt and give no support. We have to put a stop to it.
I was lucky I was able to get my money from British American when my policy matured in 2005. But for years after that I was still receiving tax return statements showing I was still paying premiums. I have 2 policies with CLICO which I am still servicing in the hope that the company will be refloated. But i have heard nothing from the company or the Government to give me hope.
Frank Myers cannot give policy holders any assurances that they will get their money back. Having read that article, one thing comes to mind: British American has gone under and is bankrupt. So they will most likely file for bankruptcy if there are any bankruptcy laws in Saint Lucia and that will be the end of that. As I understand the matter, a legitimate Bankruptcy claims automatically absolves the debtor and to an extent leaves the creditor in a financial limbo. It's simple, kicking up hell and ranting and raving won't help those who have invested in British American.
One more thing, that situation is not unique to British American..it's a global situation where prominent companies are going broke and can't pay back investors. It's sad but that's the harsh reality. Those policy holders might as well be patient or accept their losses. It's infantile to think that selling the building will makeup for the losses of policy holders!
FRANK MYERS has always had a pig-headed, nasty attitude, even in the best of situations. He should have been the last person appointed to deal with a situation such as this, which calls for tact, diplomacy and sensitivity. The use of strictly KPMG officers as Judicial Managers, is really a form of pulling wool over our eyes. There is so much that can be said about that cuhsy arrangement. Thank GOD, the new Prime Minister of Trinidad & Tobago, is very astute, and they can't pull wool over her bright eyes.She can see them coming from afar.
What about the responsibility of the Registrar of Insurance Office in the Government, whose responsibility was to ensure policyholders investments were prudently managed from its regulatory functions.It appears that they were conviently sleeping at the wheel? Was a certain Prime Minister's daughter, the god-child of a big wig in CLICO/British American?. Time will tell the true story. Myers should be relieved of this appointment, and someone with more skill and sensitivity appointed. It was known from the start that Myers was the wrong person for that function. But all of that is Stephenson King and Issac Anthony, or is it Anthony Isaac at the Ministry of Finance, continuing to make all those catastrophic blunders.St. Lucians are fed up, with those funny arrangements where people are appointed to positions not because they can make any good impact for the people and the country, but rather because some politician is helping them make some money, and lots of it.We are fed up.
In the first instance, a majority of the policyholders at an extraordinary meeting should have had the say and given the approval for the persons who should be presented to the COURT FOR AN APPOINTMENT AS jUDICIAL MANAGER. If the current legislation does not provide for this, then it must be changed, noe given our hindsight.
Because, given the fact that FRANK MYERS is well known in St. Lucia, in not a favorable light. For a fact, he would never have been appointed by the Policyholders. Who is he really representing? He is well known to have a very ugly attitude, and is generally not liked in the country, not only now, but for quite sometime now.The Government made a big mistake there in having him represent policyholders in this matter. We are taking a serious stand on this one. We have had enough bad blood running in this country, for much too long.
I was not at the meeting and so I'm in no position to comment on Franks' performance or behaviour at that event. But the Frank Myers I know is neither pig-headed or nasty.
BLOGGER ABOVE, its obvious. You said it well. The Frank Myers YOU know. The FRANK MYERS we saw at the meeting and we know, is exactly what we described.Thank You.
The Frank Myers I know, if he could have thrown out Micah George from that meeting, the manner in which he was glaring, he would. Believe you me. And that's the Frank Myers both my husband and I know.
That Thursday afternoon meeting with Frank Myers, I am told one gentleman went in search of a bull-pistle to let Myers a few good lashes from it. Whatever happened to that. GOd put a hand. Everywhere we turn is hooking and crooking.
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