Government asks Clico to discontinue issuing new policies in Dominica
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| Published on Saturday, June 19, 2010 |
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ROSEAU, Dominica -- The government of Dominica has advised the Branch Manager of Clico International Life Ltd. to discontinue the issuing of new policies in Dominica until further notice.
A letter from the Government of Dominica dated May 11, 2010 reads:
"The Government of Dominica has been monitoring the developments in regard to the operations of Clico. We find it necessary at this time to request that the Dominica agency of Clico discontinues the issuing of new policies in Dominica until further notice."
This action is consistent with that taken by member states of the Eastern Caribbean Currency Union (ECCU) further to communications received from the regulator of insurance in Barbados.
The government of Dominica said it will continue to provide updates on this issue as it is important for the continued good financial health of not just Dominica but all the other members of the ECCU.
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