PHILIPSBURG–The Central Bank of Curaçao and St. Maarten (CBCS) invited St. Maarten Employers Union (SEU), St. Maarten Insurance Association (SMIA) and St. Maarten Brokers Association (SIBA) to a meeting to discuss SEU’s concerns about the outstanding Hurricane Irma claims still owed by several insurance companies to many individuals and companies on island.
In a notice issued on Tuesday, the bank said it considers this meeting a means not only to explain its supervisory role and task to the SEU, but also for learning first-hand the concerns of this part of the St. Maarten population.
The bank also stated that it has been in frequent contact in the past months with all insurance companies concerned to assess and address the claims-settlement process. Insurance companies were put on a monthly reporting basis, complemented with on-site visitations and meetings with representative organisations, to address the issues at hand.
“Where deemed necessary, supervisory actions and measures were taken. The CBCS has full understanding for the concerns expressed by the SEU. An invite for this meeting was extended to the parties and SMIA already accepted the invitation.
“CBCS expects to obtain valuable information during this meeting to further enhance its market conduct supervisory framework, which was recently given a stronger legal basis with the passing of the harmonisation ordinance in March last,” stated the notice.
Consumers are reminded to regularly visit the CBCS website
http://centralbank.sx/conduct-supervision to consult current and new regulations, and to address any questions regarding these to
Complaints can be filed with the CBCS by accessing the complaint Q&A section on the CBCS website regarding the necessary steps, which can be downloaded from the website via the link http://www.centralbank.sx/complaint-faq
If preferred, consumers are free to visit the CBCS office at Walter Nisbeth Road 25.
Source: The Daily Herald https://www.thedailyherald.sx/islands/77781-central-bank-invites-seu-smia-siba-for-meeting