ECCU Governments officially launch Health Insurance Support Fund

Kingstown, St.Vincent, May 18, 2011—The ECCU Governments are pleased to announce the official launch of the ECCU/BAICO Health Insurance Support Fund.

The ECCU Governments moved to establish the Fund after British American Insurance Company (BAICO) was declared insolvent by Judicial Managers in October of 2009. From that time the ECCU Governments determined that establishment of the Fund was desirable in order to bring a level of relief to health insurance policyholders in particular, whose claims could not be met by BAICO.

The ECCU Governments understand fully the complexity related to the collapse of BAICO, and they have remained committed to providing some of the health security that that was lost to health policyholders as a result of the BAICO collapse.

What the Fund will cover

The Fund will make payments to persons with valid unpaid claims incurred on or before 18 June 2011 under the following BAICO Health Insurance Policies:
•    Mediflex Plus – Standard and Deluxe Plans
•    Mediflex Silver and Gold Group Insurance
•    Hospital and Surgical Plan (Adult and Juvenile)
•    Personal Accident Income Replacer
•    Hospital & Surgical – Cancer
•    Mediflex Hospital – Instant Issue (Hospital and Surgical version only)
•    Sickness and Accident Policy – Instant Issue
•    Super Shield Cancer Coverage

The Fund will not cover claims under any other BAICO Policies, including life insurance, annuities or investment policies, even if funds are required to meet medical needs.
Period of Claims coverage

Claims under the above policies that were incurred until 18 May 2011 may be eligible for relief from the Fund.  Claims incurred from 19 May 2011 until 18 June 2011 inclusive may be covered only if there is sufficient funding available.

Applications to be made

As a condition of being paid by the Fund, a formal Application must be made under which the Applicant assigns their Claim to the Fund.  Application Forms are available from BAICO Branches.  To assist Applications, pre-completed Applications are being made available.

Orderly Process for Applications

During the first month of the Fund’s operation, applications to the Fund will be accepted in BAICO branches in alphabetical order as follows:


WeekDatesApplicants with Surnames beginning with
1Wednesday 18 May to Friday 27 MayA-H
2Monday 30 May to Friday 3 JuneI-M
3Monday 6 June to Friday 10 JuneN-S
4Monday 13  June to Friday 17 JuneT-Z



From 18 June 2011, branches will be able to assist any Applicant, regardless of their surname.

Deadline for Submission of Applications

Importantly, Applications must be received by the local BAICO branch no later than 31 December 2011.

Payments from the Fund

Applicants should allow up to 90 days for processing once they have submitted their completed Application.  Payments will not be made on any Application until it is fully processed.

Operations of the Fund

The Fund has been established as a trust, under a Trust Deed that outlines the operating rules for the Fund.  The ECCU Governments have appointed as the trustee a special-purpose company called ECCU Health Insurance Support Inc.

Update on BAICO Resolution Strategy
In February 2011, the ECCU provided an update on progress in relation to refining and implementing solutions to respond to BAICO’s collapse.

The proposed solution involved a number of elements, each of which is intended to provide some relief to different groups of BAICO policyholders.  The two solutions still to be implemented are:
•    For traditional Life Insurance policyholders
The recapitalization and sale of BAICO’s traditional insurance business
•    For non-traditional Annuity and Investment policyholders
Establishment of a compensation scheme for non-traditional insurance policyholders continues to be diligently pursued by the ECCU Governments in collaboration with regional partners including the Government of Trinidad and Tobago.


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  1. Anonymous
    May 22, 2011

    stop fooling we the poor people of d/ca ,we want our money ,it,s ours we want it now

  2. Anonymous
    May 20, 2011

    stupes ………….what the dam governments should do is get rid of that insolvent company

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