The Bahamas Government is continuing with its commitment to making interim payments to all qualified policyholders of CLICO, in a series of three tranches during 2017. As a result, the second tranche of payments will take place during the month of October to ensure that qualified policyholders receive the full benefits of their policies.

The Government has determined that these scheduled payments will be limited to the qualified policyholders of record as of December 31, 2016.

The proposed payments are scheduled to commence on Monday, October 23, 2017 in New Providence at the offices of CLICO on Mt. Royal Avenue, and on Monday, October 30, 2017 in Grand Bahama at the CLICO office building, West Atlantic Drive, Adventurer’s Way, Freeport.

Policyholders should note that a further public notice on collection details i.e., by surnames on specific dates, will be announced shortly to ensure an orderly process.

All qualified policyholders with few exceptions, will receive up to $5,000.00 in respect to their outstanding claim balances.

Policyholders who have not collected their cheques with respect to the April 2017 and earlier payout exercises can expect to receive a combined payment covering previous disbursements.

Policyholders, where applicable, should therefore make every effort to collect their cheques at the designated locations and times to avoid delays by the Government having to cancel stale-dated cheques and reissuing them at a later time.

As previously stated, Policyholders are advised that any balances outstanding at the end of 2016, and not fully settled in the 2017 tranches, will be paid out over a period of four years in equal instalments.

Finally, Policyholders with in-force policies unless otherwise notified are to continue making their premium payments in accordance with their policy contracts to ensure that they continue to receive coverage and benefits under the terms of their policies.

CLICO’s policyholders should note that the Bahamas Government continues its efforts, in good faith, to bring relief to those affected by the closure of CLICO.