March 12, 2010
Chamber of Commerce to host Insurance Forum

FOR the first time since British American Insurance Company Limited (BAICO) was placed under judicial management, a national forum to be hosted by the SVG Chamber of Industry and Commerce will be held to engage policyholders and other persons interested in the state of the Insurance sector.{{more}}

Late last year, BAICO experienced financial and operational difficulties, a reflection of the grave problems experienced by its parent company, CL Financial Limited, of Trinidad and Tobago. This has left many investors (individuals and businesses alike) in St.Vincent and the Grenadines in a state of uncertainty and many have complained of a lack of understanding of the state of affairs. In the interest of providing information, and given the potential impact the failure of this company may have on the local economy, the SVG Chamber of Industry and Commerce hereby invites you to our forum entitled: “The Insurance sector: The Past, the Present and the Future” on Thursday, March 18, from 9am -12pm, at a venue to be confirmed.

The objective of the forum is to gain a better understanding of the current financial turmoil facing BAICO, lessons learnt from the experiences of our Caribbean counterparts and the plans to stabilize and reform the financial sector.

The Forum will take the form of presentations by a select panel followed by a period for questions and queries. The Panel speakers and their respective topics are as follows:

1. Mr. Leon Anderson, Senior Director, Insurance, Financial Services Commission, Jamaica

Topic: “Insurance sector reform: Lessons learnt from the Jamaica financial crisis of the mid-1990s,”

2. Mr. Brain Glasgow, Judicial Manager, British American (St.Vincent)

Topic: “Insurance: What can policy holders of the British American Insurance Company now expect?”

3. Ms. Mintrue Rose, Head, Insurance Supervisory Unit, Ministry of Finance

Topic: “Insurance sector reform: An overview of the plans for St.Vincent and the Grenadines”

Registration for this most valuable activity is free for participants.