Bridgetown.
The Barbados Investors &Policyholders Alliance (BIPA) is preparing to take action against those responsible for the collapse of the insurance company.
BIPA has instructed its attorney Tariq Khan to invoke pre action protocols against the Office of the Supervisor of Insurance and the directors of CLICO.
"In lay terms, this is the first step in process of establishing who ought to be subject to legal action as aresult of the collapse of the insurance company which has left many of the 25000 Barbadian CLICO policyholders and their families in a state desperation and destitution", said a BIPA statement.
