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CLICO And British American Policyholders Organize, Finally!

The correct name for this Alliance is BIPA not BIPHA as put forward in the Video (BAICO is pronounced the same as the Ice Cream acronym, BICO but it is in fact – British American, a CL Financial subsidiary) – last time this Pressure Movement met at Divi Southwinds they were only a 100 strong…

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Attorney Tariq Khan fielding questions from Policyholders & Investors at St Gabriel's – Photo credit: Bajan Reporter

The correct name for this Alliance is BIPA not BIPHA as put forward in the Video (BAICO is pronounced the same as the Ice Cream acronym, BICO but it is in fact – British American, a CL Financial subsidiary) – last time this Pressure Movement met at Divi Southwinds they were only a 100 strong – this following time, when they convened at St Gabriel’s Primary School there were at least 300 strong and they plan to reach at least 500 by July when they plan to not only take Legal Recourse via group-selected Attorney Tariq Khan, they also plan to bear down on the current Finance Ministry to ensure their original investments with CLICO do not disappear like a snow cone on an asphalt road in the noonday sun.

Full Article at Bajan Reporter

70 responses to “CLICO And British American Policyholders Organize, Finally!”

  1. BAJAN TRUTH Avatar
    BAJAN TRUTH

    CCC
    Ignorant as usual. What egg? Bermudans aint Bajans. My hopes did up when I here that Weetherhead buy Clico. Till my wife tell me read closely, it is the general insurance not the life insurance. Aaagghh!!!!

  2. David Avatar
    David

    Vernese Brathwaite is the acting Supervisor of Insurance.

  3. Carson C. Cadogan Avatar
    Carson C. Cadogan

    OFFTOPIC

    “The debate of the 2011-2012 Estimate of Revenues and Expenditure started in the House of Assembly on March 14, 2011. In his opening statement, the Leader of the Opposition the Rt. Hon Owen S. Arthur, expressed concern that the Government had not accepted his offer of bringing the best minds in the country together including the Opposition, to help Barbados to rise above the difficulties in which it now found itself.”

    THE BLP BLOG

    I can not help but say that Barbados Labour Party members and supporters have no shame.

    Bare face LIARS WITH NO MORAL AUTHORITY to tell anyone anything.
    How could “Seethru” in good conscience make such a statement and really expect Barbadians to take him seriously.
    David Thompson reached out him among others to be part of a committee of sorts to help guide Barbados out of the difficulties which were thrust upon it. HE FLATLY REFUSED and then headed to the airport to assist the Govt. and people of Atigua with their difficulties. He refused to help the people of Barbados but gladly helped the people of Antigua.

    Only some one who was drunk could make the above statement on the BLP blog in an effort to mislead the public.

  4. Straight talk Avatar
    Straight talk

    Acting?
    Was the previous act booed off the stage?
    Where has he gone?
    Can anyone be held accountable in this fiasco?

  5. Prodigal Son Avatar
    Prodigal Son

    This group had better make some noise and act quickly because no doubt by the time that a judicial manger is in place, all of the money from Bernie Weatherhead will be gone. Leroy Parris will find a way of making his lackies Terrence Thornhill and Jeffrey Brewster pay him some of it.

    I have afriend who finally got his money out. He told me he was relentless in calling Jeffery Brewster after Terrance Thornhill refused to talk to him. He is still battling for what he has in British American.

    This group will have to investigate FAMILIES FIRST account and see if they can get back some money from there too! That’s where David Thompson stored all of the ill gotten CLICO campaign monies.

  6. Carson C. Cadogan Avatar
    Carson C. Cadogan

    BAICO life insurance policyholders to get maximum of 50 cents on the dollar

    “Life insurance policyholders of the defunct Bermuda branch of the British American Insurance Company will get back a maximum of 50 cents on the dollar of the value of their policies, the liquidator’s agents have revealed.”

    http://www.royalgazette.com/article/20110406/BUSINESS/704069973

  7. Truthman Burton Avatar
    Truthman Burton

    @Prodigal Son | April 6, 2011 at 9:59 AM |
    This group will have to investigate FAMILIES FIRST account and see if they can get back some money from there too! That’s where David Thompson stored all of the ill gotten CLICO campaign monies.
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
    You are right Prodigal Son. Do you think Carson Cadogan could ask his close friend “The Queen” to give Barbadians some information about ALL OF THAT CLICO MONEY siting in the FAMILIES FIRST ACCOUNT as well as the millions that were already spent? All those MILLIONS of campaign funds that Leroy “PAYPAL” Parris handed over to her Dead King?

    Guess we will NEVER know about these funds, right CARSON?

    Incidentally Prodigal Son, it is true that the matter of the JudicialManager has been adjourned to May, 2011, but I understand that there definitely will be further delay, because CLICO will appeal. I am not sure that they can legally do this, but it seems anything can happen with this case. LOOK AT HOW LEROY “PAYPAL” PARRIS GOT OUT OVER $3 MILLIONS FOR HIMSELF although there was a Memorandum Of Understanding signed between David Thompson’s Gov’t and CLICO that NO BONUSES, GRATUITIES ETC. would be paid to CLICO employees!!!

    So all of these strategised delays , in the absence of a Judicial Manager in place, will allow “PAYPAL” PARRIS and his cronies to further rape the company, until NOTHING is left for the Policy Holders! But then Freundel and Company will ask us, the Barbadian Taxpayers to come up with the money, while his “PayPal” buddy, will walk free.

    This is the worst ever Government we have had in Barbados CARSON! And furthermore, it nauseates me (like in lastnight’s primetime news), to see our Bullfrog Maguffy Minister of “FINE ANTS” being given nearly TWENTY MINUTES ON CBC DLP TV, TO GRIND BEHIND A WOMAN, and talk about YET ANOTHER PARTY …. Jamming, Jamming , Jamming, NON-STOP!

    Man these people sure know how how to party and drink champagne, but they haven’t a clue about properly managing a country!

  8. David Avatar
    David

    Is the MOU still in vogue?

    Is the fact CLICO is a private company creating a problem for the government?

  9. anthony Avatar
    anthony

    David the didn’t MOU expired on june 12 2010 when the oversight committee came to an end? That how clico was able to pay the parris the 4 $30,000 payments in 2010 isn’t it ?

  10. David Avatar
    David

    You are making our point, the government maybe getting pushback because they are essentially dealing with a private company.

  11. anthony Avatar
    anthony

    Humm offering the helping hand and getting pushed back ? I guess sue the holding company and get whatever money you can. Wait that what already going to happen.

  12. David Avatar
    David

    Do not forget that CLICO has been a hostile participant in the due diligence process concerning the sale of the problem company CIL.

  13. anthony Avatar
    anthony

    So what is left to do? liquidate it ? The sell the short term assets and then put forward resolution to either sell the property assets now or hold the asset until a better price can be got ? With possible buyout of less investor by the big ones if offer cash in hand ? Then what about paris and the board they must hold some responsibility for this mess.

  14. Snyder Avatar
    Snyder

    I thought Chris McHale was astute? Obviously NOT as he seems to be one of the suckers who got taken by CLICO or BAICO or both, I wonder how much he lost? Greed is the undoing of so many people.

    The old saying is always true…………the return of principle is more important than return on principle. McHale thinks he is bloody QC yet if you listen too him good he really just regurgitates alot of non-sense told to him, presumately by lawyers.

  15. David Avatar
    David

    By Mike King | Thu, April 07, 2011 – 12:07 AM

    CLICO’s alleged contravention of an August 2009 order by the Supervisor of Insurance to stop selling new business is headed for the Office of the Director of Public Prosecutions (DPP).

    Commissioner of Police Darwin Dottin told the DAILY NATION yesterday he had spoken with the Fraud Department head, the lead investigator, who is “just at the point where he is soon going to be referring the file to the Director of Public Prosecutions for guidance”.

    Dottin said there were several people to be interviewed in the probe where CLICO is alleged to have sold 800 life policies in the first two months of 2010.

    “It is certainly not the run-of-the-mill case. It is not every day that you get a case of that nature. There is high public interest in the matter, and we are seeking to have the investigation completed as soon as possible,” he said.

  16. Prodigal Son Avatar
    Prodigal Son

    Nothing will come of this after it goes to the DPP. This will be just like the Bejerkham file the Commissioner of Police sent to the DPP for prosecution. Heard anything further of this case? Conclusion….. both persons/companies involved are staunch backers of the corrupt DLP.

  17. anthony Avatar
    anthony

    Paris bonus is equal to 1/2 Baico excess liability in the bermuda. Make one wonder right.

  18. Prodigal Son Avatar
    Prodigal Son

    British American was a well run and managed company until those vultures Parris and Duprey got their hands on it. Then in their usual modus operandi style, they raped and plundered its resources.

    I have a friend who had a lump sum she got from a severance package invested in British American. She did not know that the company was taken over by CLICO until the “shit” hit the fan. I told her go and get your money as she was waiting to see what would happen after the dead king told Bajans that their monies were safe. It was only after her agent, who by this time had cursed Parris and left CLICO, told her to go and get her money, did she ask for her money. It took her a while but thankfully, she got it all.

    And you want to tell me that Duprey and Parris should not be behind bars.

  19. David Avatar
    David

    @Prodigal Son | April 8, 2011 at 10:05 AM | | Edit

    Nothing will come of this after it goes to the DPP. This will be just like the Bejerkham file the Commissioner of Police sent to the DPP for prosecution. Heard anything further of this case? Conclusion….. both persons/companies involved are staunch backers of the corrupt DLP.

     

    The Bejerkham matter has been adjourned until June 30, 20100. One wonders the reason this time i.e. if he is still getting treatment from Miami. Isn’t it amazing how Richard Cheltenham is able to get his cases to be protracted? Remember Jippy? It took 7 years for that case to get a result, and then there was the technicality.

  20. Debbi Avatar
    Debbi

    I think it’s disgusting what British American has gotten away with. At the Bermuda branch, the Agency Manager had never even worked in Insurance before so it’s a mystery how she got the job. While most of the staff were kicked out, she stayed on board drawing her large salary while helpoing with the winding up process. She is an ACCOUNTANT by trade with NO experience in the Insurance field and it’s all been hush-hushed.

    This company was introuble and sent out all sorts of statements that everything was fine so that policyholders would keep paying in. Yet staff were able to tip off family and friends who cashed in their policies. Isn’t that similar to insider trading? It’s disgusting what Britis American has gotten away with. The only people who have sufferred are the policyholders and minor staff. All the ‘big boys’ are still drawingtheir huge salaries. If you or I stole money, we’d be in jail yet these people have gotten away with STEALING from the little people and won’t even be held accountable. That is not right!!!

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