Got TIPS or BREAKING NEWS? Please call 1-284-442-8000 or Email ALL news; ads call 1-284-440-6666

Action needed from NDP on rising insurance costs - Claude O. Skelton-Cline

Claude O. Skelton-Cline is calling for action from the National Democratic Party (NDP) on the issue of rising insurance costs. Photo: Facebook
Mr Skelton-Cline said, “I took note on the last sitting of the House of Assembly where a couple of the Legislators… Ronnie W. Skelton (AL), Kedrick D. Pickering (R7)… I heard them got up in the House of Assembly [to speak] about the 300% hike in insurance premiums
Mr Skelton-Cline said, “I took note on the last sitting of the House of Assembly where a couple of the Legislators… Ronnie W. Skelton (AL), Kedrick D. Pickering (R7)… I heard them got up in the House of Assembly [to speak] about the 300% hike in insurance premiums". Photo: VINO/File
BAUGHER'S BAY, Tortola, VI: On an episode of ‘Honestly Speaking,’ dated October 30 2018, host Claude O. Skelton-Cline delivered a whipping to the National Democratic Party (NDP) government over its failure to adequately address the rising cost of insurance premiums in the Territory.

The “Honestly Speaking” host was at the time interviewing U.S Virgin Island Candidate for Governor, Moleto A. Smith Jr when he raised the issued during his opening commentary after taking note of some NDP House Members complaining about the increased insurance costs during a sitting of the House of Assembly (HoA).

Mr Skelton-Cline said, “I took note on the last sitting of the House of Assembly where a couple of the Legislators… Ronnie W. Skelton (AL), Kedrick D. Pickering (R7)… I heard them got up in the House of Assembly [to speak] about the 300% hike in insurance premiums… I heard them raise questions about their own particular bills going up… and it’s good to finally hear them say something about insurance, but why are they only waiting until it hits their pocketbook?” Skelton-Cline questioned.

Who feels it knows it

The radio host said, “we heard little or nothing from the Government… nothing effective happened that really helped our people to be in a better position”. The radio host pointed out that even though the people have been crying out for months over how “terrible the insurance companies have treated us when we were at our lowest”, the NDP legislators are only now raising questions as the whether or not the government is meeting with the requisite sectors of the industry.

“Now that it’s affecting them in terms of the cost, now they crying out… you are all the government, you all had the responsibility then as you do now to set new policies, set a new course and new direction in place to see to it that going forward, these insurance companies cannot conduct business as usual,” he said.

 “I am calling upon this government and any future government to ensure that we have a new course particularly as it relates to the insurance companies that do business in this territory.” Mr Skelton-Cline said, “I don’t take it lightly and I speak passionately about this matter because it sickens me to this day, that so many of our people are still struggling to get back on their feet due to how these insurance companies in particular had treated us.”

21 Responses to “Action needed from NDP on rising insurance costs - Claude O. Skelton-Cline ”

  • wize up (02/11/2018, 19:30) Like (29) Dislike (1) Reply
    the same persons whom should be looking out for the people of the territory are bosom budies with the heads of these companies therefore it is not in their best interest to defend our people: some of the same political leaders have deep pockets so certain financial situations will not affect them the same way it effects the small man....I gone!!
    • so right (02/11/2018, 19:45) Like (26) Dislike (3) Reply
      @wize up. NDP government are all shareholders in other businesses together with stakeholders in these insurance companies so who to look out for who? We the people are just being p!!ssed on; it’s for who to know...I gone same way.
    • So true (02/11/2018, 20:14) Like (20) Dislike (4) Reply
      @wize up. This current gov’t group are shareholders in other businesses with stakeholders in these same insurance companies, so who really looking out for we. This gov’t is only p$$ing on we. It’s for who to know? I gone here same way.
  • Hmmmm (02/11/2018, 20:24) Like (22) Dislike (3) Reply
    Depending on NDP hmmm. We doom..
  • time (02/11/2018, 20:27) Like (30) Dislike (0) Reply
    It is time for all elected officials to publicly declare any business interests in other businesses in our country.
    • wize up (03/11/2018, 06:39) Like (17) Dislike (0) Reply
      @ time: might not be applicable because those guys simply put their personal business involvement in other people’s names such as their spouses, children or friends: some form cooperations and divert their personal profits through this channel....the thing call the dollar have created some serious issues in our territory: some serious legislation is need but none of the 13 we have voted for is doing anything to fix this matter: yes!!! some talk about it and then what nothing
  • bone (02/11/2018, 20:29) Like (14) Dislike (20) Reply
    Honestly speaking I sick a hear this guy rant on. It’s enough watching them shows.
  • Their practices (02/11/2018, 20:38) Like (21) Dislike (3) Reply
    Some, if not most, of these insurance companies engage in predatory practices; it is up to the government through legislation to curtailed these practices in our country or else we doomed.
    • same here (03/11/2018, 06:28) Like (20) Dislike (1) Reply
      @their practices. The same way these construction contractors are taking advantage of our circumstances. They have all become predators, now we are like prey and no leadership to look out for us. They are all “rate gouging” us at a time when their rates should be regulated so we can afford to get out of this mess. Which agency going to look out for us. Rates must be regulated in someway, shape, or form if we are to survive this mess and still feed our families properly. We need help.

  • wize up (02/11/2018, 20:41) Like (18) Dislike (1) Reply
    you know in other jurisdictions(justice) when a person uses his or her influence for financial reward or gratification it’s off to jail such a person goes.....!!!!!
  • E.Leonard (02/11/2018, 22:35) Like (20) Dislike (1) Reply
    Simply, insurance is the pooling of resources by consumers to cover losses from covered perils, ie, fire, wind......etc. Based on this premise, the larger the number of policy holders, generally, the lower the premiums paid by individual policy holders. Insurance is based on large numbers. As such given the VI small size and small population(~30,000), premiums will typically be higher than in larger locales. Moreover, rstes typically rise after a major event and large payout, ie, Hurricanes Irma and Maria. How much the rate should rise is the question.

    In some locales, a regulatory agency regulates rates. However, there are pros and cons to government regulating insurance rates, ie, companies leaving the area/market. For the most part, government put regulations in place to ensure that insurance companies are on sound financial footing so as to be able to pay claims, ensure fairness and non-discriminary practices, insurance company(s) solvency, ensure good claims practices.........etc. A best management practice in the market place is competitive rate setting. Competition should and usually keep rates fair and reasonable.

    Hurricanes Irma and Maria brought to light the issue of residentseither having no insurance or being under insursed. Buying insurance to protect property is a personal choice by property owner(s). Typically, a property owner can buy full replacement cost or under insurance. What is under insurance? For example, if a property is insured for $500K full replacement cost, any loss up to $500K will be paid. On the other hand, if the property owner insures the same property for at least 80% ($500,0000X .80=$400K) of full replacement cost, any partial lost up to $$400K will be paid. Further, if a property is insured for less than 80% of full replacement cost, any partial lost may not be reimbursed at a 100%.
  • P$$ed!!! (03/11/2018, 07:38) Like (26) Dislike (12) Reply
    We have been here paying for years and years, upon years, and because of these natural disasters, these insurance companies trying to recoup their draw that was paid out in the shortest period of time possible. For what some of us got, it wasn’t even reasonable, pennies on the dollar of what was paid over the years. They need to be taught a lesson by given them some ultimatums. They either create more reasonable rates or open up the markets to more regional or international insurance companies so the pool of insurers can be larger at much more lower rates. Time to play hardball!

    And for these contractors, they are running from gov’t contracts now that they are being heavily regulated, and instead, turn to preying on us residents. They too need to be taught the same listen- standardize their rates or open up and flood the market with regional and international contractors for a period of time until rates are normalized. Create more supply than demand until they understand that they cannot continue to consume more greed than need. Enough is enough!

    Same should be done for these technology companies, internet and wireless services are ridiculous for what we pay. Time for serious leadership!

    Time to play hardball with these companies! We cannot continue to play victims.

  • resident (03/11/2018, 07:44) Like (19) Dislike (2) Reply
    They all a bunch of Predators.
  • Lord o (03/11/2018, 09:31) Like (17) Dislike (6) Reply
    Base on all that I am reading on all that's happening. Seems like we as a people have to be very skeptical about Business people who are and want to be politician. It seems they put self interest ahead of the peoples interred.. To think of it people are in businesses to make money politicians or not, more reasons for the people to be skeptical and no the people they are voting for because the people we voted for is the government we getting. Don't vote for B and you know B is a greedy business person then complained when B turn out to be B. .
  • Thank first the almighty (03/11/2018, 10:27) Like (30) Dislike (5) Reply
    For these news media and talk shows. Hope they continue to stay strong. Alot of us a suffering in silence and afraid to speak up because there are some wicked people in high places who will undermined your efforts to tell the truth and cause personal harm if you do. We see how those who are upfront and vocal, the sacrifice they face, they and their families, and that makes some of us even more silent. I really admire those who can do it.

    Thank you Claude Skelton-Cline, thank you Doug Wheatley, thank you Edmund Maduro and guests, thank you Julian Gordon and crew, thank you Alred Frett, thank you Vino, thank you BVINews, thank you Platinum, thank you PSI, thank you Beacon, thank you Island Sun, and thank those I may have missed. What would we be without the Freedom of the Press?

  • Thanking their outlets (03/11/2018, 10:42) Like (18) Dislike (1) Reply
    The radio stations: The Great ZBVI, 780AM and CBN 90.9FM.
  • BVI Diaspora /Enclave (03/11/2018, 10:53) Like (17) Dislike (4) Reply
    As other bloggers have noted, insurance is the pooling of resources to protect property by sharing the cost of incurred losses. Insurance protect assets, brings peace of mind and make policy holders whole, having incurred losses. True, you may buy insurance for years and years and may not collect on your investment, for you have not incurred any losses. That is a blessing. However, though you may not have had a reason yet to file a claim, some of your fellow policy holders did and hopefully if you have to file a claim you too will be reimbursed. It is often alleged that some insurance companies are predators. Real or perceived this is a real problem. Consequently, government must take actions to protect policy holders. Similarly, hopefully strong competition can weed out the greedy predators. Further, government must work to include residents in larger regional pools to provide a higher level of insurance services while lowering cost.
  • ReX FeRal (03/11/2018, 12:43) Like (8) Dislike (3) Reply
  • Shaun (04/11/2018, 10:10) Like (12) Dislike (0) Reply

    My mortgage payment increased by $500 dollars per month. They doubled my insurance premium. I never made a claim. How could this be right? This is plain out wrong.

  • facts (05/11/2018, 04:33) Like (8) Dislike (6) Reply
    I dont care what a man say nagico paid out the most in claims

Create a comment

Create a comment

Disclaimer: Virgin Islands News Online (VINO) welcomes your thoughts, feedback, views, bloggs and opinions. However, by posting a blogg you are agreeing to post comments or bloggs that are relevant to the topic, and that are not defamatory, liable, obscene, racist, abusive, sexist, anti-Semitic, threatening, hateful or an invasion of privacy. Violators may be excluded permanently from making contributions. Please view our declaimer above this article. We thank you in advance for complying with VINO's policy.


Follow Us On

Disclaimer: All comments posted on Virgin Islands News Online (VINO) are the sole views and opinions of the commentators and or bloggers and do not in anyway represent the views and opinions of the Board of Directors, Management and Staff of Virgin Islands News Online and its parent company.