Blame Arthur for CLICO fiasco


Donville Inniss and Verla DePeiza.
Donville Inniss and Verla DePeiza.

Minister of Health Donville Inniss says that it was the State’s fault for the CLICO fiasco.

He was speaking last night at a Democratic Labour Party national meeting in Eden Lodge in St. Michael in the St. Michael North constituency.

“When it comes to that CLICO issue my position is that the State did not provide effective regulations for the policies,” he said, adding that included the time when Owen Arthur was Prime Minister and Minister of Finance with the responsibility for insurance.

“The state failed to effectively regulate some of those CLICO and other insurance products just as they failed with [others]. Ask Delisle Bradshaw if you doubt me. Some of those financial products that failed years ago that up to now after 14 years as Prime Minister Owen Arthur did not get back a cent for one Barbadian who lost money…

Remember New England Insurance, [and] all of the insurance companies that Barbadians lost money

in? Owen Arthur didn’t talk about them when he was Prime Minister, he ain’t ask for a cent for a fellow then,” said the incumbent for St. James South.

Inniss described the CLICO affair as “another classic example of the mess that Owen Arthur brought this country” in declaring that as the finance minister with the responsibility for the office of Supervisor of Insurance, the same Government department which had the responsibility for licensing, issuing and the approval of insurance products in Barbados, he had to take “great responsibility” for the issuing of the CLICO products.

“Those CLICO products that have landed the company in trouble, those products were approved with Owen Arthur as Minister of Finance. So all he come now crying crocodile tears and promising to sell everything in this country to pay back 600 CLICO policy holders, not 35,000.

“Understand this Barbadians, that CLICO fiasco, as Arthur calls it, is really of his making. Don’t be

confused by Leroy Parris’ relationship with David Thompson or who is who friend in the Democratic Labour Party,” he warned.

“He [Arthur] wants now to feed people’s egos and say we are going to pay this back and pay that back. I believe they must get money back but let me also say this, there are some institutions in Barbados that took up money of their members and invested in those products.

“I am amazed at some of those individuals who today are keeping noise in the Barbados Labour Party camp, who took that decision on behalf of entities that they work with to invest in the CLICO product because it was out of sheer greed on the part of those individuals.

“I am no hypocrite… I am sick and tired of these politicians who come before you night after night behaving as though they are washed in the blood of the lamb, when in truth and in fact they could never look God in his face,” said Inniss. (KC)

Leave a Reply

Your email address will not be published. Required fields are marked *