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Sunday, November 18 2018 @ 04:44 AM UTC

British American Insurance Company Collapsing in Panama!

Insurance The British American Insurance Company can not be saved, after a 180-day intervention by the Superintendence of Insurance and Reinsurance of Panama, according to the Minister of Trade and Industry Roberto Henriquez, who spoke to Telemetro Reporta. Henríquez said that in Trinidad and Tobago, this company has been put on trial for fraudulent bankruptcy. They also filed a complaint with the Public Ministry that could lead to the collapse of the British American Insurance Company based in Panama. The Superintendency of Insurance and Reinsurance Panama sued the British American Insurance firm for alleged irregularities in the handling of $10 million dollars. The complaint was lodged by the chairman of the regulator, Louis Della Togna against directors and shareholders of the company for alleged violations of the laws that govern and regulate the insurance sector of Panama. About 10,000 people in Panama, who have health, life, and annuity insurance with the company, will be affected by the bankruptcy of the company, which has been operating in Panama since 1967. (La Estrella)

Editor's Comment: If you had insurance with British American in Panama, and if you just learned that you probably don't have any insurance coverage at all, this might be a good time to give my good friend Kevin Bradley a call, 6674-1063. He's working with and for Ducruet, one of the strongest and most stable Panamanian insurance companies in the country. Many people went with British American because they had lower premiums. Well, I guess you get what you pay for, eh? Live and learn.

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