Nassau Bahamas: We’ve learned that workers at the failed Clico (Bahamas) Insurance branch went home for good Thursday. Workers were told that they were relieved from their duties and were asked to returned for their packages when contacted by the company.
Bahamas Press has also learned that insurance giant ColinaImperial is currently negotiating to reach a deal with liquidators to assume a portion of Clico’s life insurance division. An executive at the company told Bahamas Press that nothing is final however, “A deal will be reached to save that portion of the company.”
“Workers were told today to come back to receive their cheques, but were not given any payment today,” the executive confirmed.
The Supreme Court assumed control of Clico on Tuesday afternoon, appointing liquidators to the company. The registrar noted that the move was done to protect the insured members of the company. No statement has yet to come forth from CLICO, leaving thousands of policyholders in a panic.
Bahamas Press warned on December 16th that a major insurance company will collapse after we received information, which confirmed that thousands of policyholders at Clico could not receive payment for claims. However despite our announcement even up to last week Sunday, naming Clico to being that company, NOT A SINGLE MEMBER OF THE WUTLESS MEDIA sought to report on the problems at that company.
The WUTLESS MEDIA HAD THE SAME INFORMATION WE DID, BUT DID NOTHING TO PROTECT NOR WARN THE PUBLIC! WHY? BECAUSE THEY’RE WUTLESS!