Prime Minister Gaston Browne says he intends to seek bilateral talks with Trinidad and Tobago Prime Minister Kamla Persad-Bissessar to press for payment of outstanding compensation owed to former policyholders of failed regional insurers CLICO and BAICO.
Browne said he plans to request the discussion during the upcoming Caribbean Community heads of government meeting scheduled for February in Saint Kitts and Nevis.
Former policyholders in Antigua and Barbuda and across the Organisation of Eastern Caribbean States have been awaiting full compensation for more than a decade following the collapse of Colonial Life Insurance Company (CLICO) and British American Insurance Company (BAICO).
The Government of Trinidad and Tobago had pledged US$100 million toward compensation for affected policyholders but has so far paid about 40 per cent of that amount.
Browne said he would be seeking discussions on how to settle the remaining US$60 million, noting that the commitment had been made several years ago and partially fulfilled.
He expressed appreciation for what he described as a more serious approach by Persad-Bissessar’s administration toward resolving the matter, contrasting it with previous governments. Browne said he hopes the current administration remains consistent so that additional relief can be delivered to affected CLICO and BAICO stakeholders.
Regional governments have continued to raise the issue at Caricom forums as policyholders await closure on one of the Caribbean’s longest-running financial collapses.
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You see how this guy Gaston stupid, during an emotional acrymonious time with Trinidad,he want go talk about some insurance payout scheme, this guy doesn’t know diplomacy.. he want go inflame Caribbean or Antigua relationship with Trinidad further.