Around $500,000 worth of insurance policies with Atlantic First?Insurance Company have been cancelled following the Insurance Commission of The Bahamas’ decision to revoke the company’s license.
As of yesterday, Atlantic First has been directed to cancel existing insurance policies and refund unearned premiums to policyholders. Superintendent of Insurance Lennox McCartney said actions to immediately revoke the license of the insurance company to write insurance business was spurred by ongoing concerns.
“If we feel the company is no longer safe and sound, we will take action and notify the public accordingly,” he told Guardian?Business yesterday. ...

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