Articles

BACOL hosts media conference on the status of the legal action filed at the CCJ to compensate British American policyholders

23 July 2021

The Vincentian

St Vincent & Grenadines

British American Insurance Company Limited and Colonial Life Insurance Company Limited Policy Holders Group (BACOL) will host a virtual Media Conference on Monday, July 26^th, 2021, to inform the Caribbean and international media (and by extension, their readers, listeners and viewers at home and in the Diaspora) of the status of the legal action filed at the Caribbean Court of Justice (CCJ) on July 13^th, 2021, in pursuit of fair and equitable compensation for British American Insurance Company policyholders and beneficiaries in seven OECS countries.

The filing of the lawsuit is the culmination of years of painstaking work and a long journey that began with the formation of BACOL in 2015, after it emerged that British American policyholders in the OECS would not be offered compensation on par with that awarded to policyholders from other CARICOM nations, following the 2009 collapse of the insurance company.

The Media Conference will be addressed by BACOL President, Dr. Patrick Antoine, and the legal team, headed by Mr. Simon Davenport, Q.C.

Media houses are invited to join the Media Conference on the Zoom meeting platform at the following link:

https://us02web.zoom.us/j/83273743441?pwd=c2N0MWFwZ0FKSHN2WDNFUGw3dHNzUT09

Meeting ID: 832 7374 3441

Passcode: 678534

Since its formation, BACOL has held consultations with aggrieved policyholders throughout the OECS, to apprise them of their rights, and to invite them to become members of BACOL, the only legally viable option to obtain fair compensation. It should be noted that currently, the only other offer of compensation from the appointed judicial managers, is for 30 cents on the dollar. BACOL, through the CCJ and on behalf of its members, is seeking full compensation plus interest for 10 years.

The legal action filed by BACOL at the CCJ represents Policyholders of British American Insurance Company Limited from Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines.

Registration of policyholders wishing to join the class action is already underway, through a network of Case Managers located in every participating country.

Next Actions – Online Town Hall Meetings

BACOL will hold a series of online town hall meetings to apprise policyholders of the lawsuit and answer questions, as per the schedule below:

·Grenada – July 27^th, 2021, 6:30 p.m.

Zoom Link: https://us02web.zoom.us/j/81067430477?pwd=WTZMbnNtcFNPRmNyTUxLM2VRU2x6dz09

Meeting ID: 810 6743 0477

Passcode: 56628

·St. Vincent and the Grenadines, St. Kitts and Nevis, Dominica–July 28^th, 2021, 6:30 p.m.

Zoom Link: https://us02web.zoom.us/j/88618532438?pwd=WHVtZHFXK1pQdnB4N21EVnJjcEZxQT09

Meeting ID: 886 1853 2438

Passcode: 381583

·Antigua and Barbuda, St. Lucia, Montserrat–July 29^th, 2021

Zoom Link: https://us02web.zoom.us/j/86225878460?pwd=RHBYZ3ZtR2RrTTQ0bmVXcCtQLzRNUT09