The Clico Policyholders Group views with "cautious optimism" Prime Minister Kamla Persad Bissessar's New Year's statement that the once economic circumstances change, there is a possibility the 20-year proposal to pay policyholders could change. In the Government's proposal, policyholders would get $75,000 and then be repaid the balance through Government bonds over a remaining 20-year period.
A release yesterday from the Clico Policyholders Group quoted the Prime Minister as saying: "We have announced certain plans for both Clico and the Hindu Credit Union (HCU). We ask you to trust and promise that when the economic circumstances change, there is all likelihood that the 20-year proposal could change." The release stated that although the economy could get worse before it got better, they were still optimistic. "We are persuaded that her statement sends the correct signal at this time and has the potential to open new vistas of opportunity for meaningful dialogue and collaboration that hopefully could result in a win-win resolution of the Clico debacle, ahead of our intended litigation later this month," the group stated.
They urged the Government to put into practice the People's Partnership approach which they preached before they got into Government and to "write a new script." The policyholders also said they were willing to put all the "negatives" of 2010 behind and meet with the Prime Minister at her earliest convenience so there could be a "win-win situation" for all.