Month: June 2025

Today, the Organization of Insurance Companies of Belize announced the establishment of a game changing approach to identifying reckless drivers and fraudsters. It is being called a claims bank. Licensed insurance companies will be able to share their customers’ claims on this database, making it easier for a competing company to identify individuals that make frequent claims. Companies can then decide to increase their premiums or flag them for possible fraud. ORINCO Secretary, Andrew Roe, told us more.

 

Andrew Roe, Secretary, ORINCO

“The members of ORINCO who do motor insurance are currently investing in what is called a claims bank and that is a database where we will be able to share all of the motor claims data that each of the companies have. At the moment we rely heavily on trust. so we trust the costumers are providing accurate information about the drivers history and claims history. This claims bank will allow us to validate that information to confirm whether or not somebody is a good driver. From the underwriting point of view insurance companies will be able to have greater insight into the customers driving history and should be able to make a better decision on how to price that product. In some cases If you are a good driver you might see benefits in reduction of premiums. If you are not a good driver and you tell insurance companies you are and you are hoping from company to company, they will know. Those people’s prices will go up. What we seek to accomplish is to make the rating more specific. So good drivers should not suffer for those who are bad drivers. The second part is fraud protection. Fraud is prevalent. It cost everybody, not just the insurance company, because when the insurance companies are defrauded premiums are collected from the customers. Reducing that instance of fraud, identifying fraudsters within the system and removing them from the system and taking action to prevent them from committing fraud will help the industry and customers to make sure they are not carrying the cost of fraud within their insurance premiums.”

 

And tonight, there is big news coming out of RF&G Insurance Company Limited. The sixty-one-year-old company is now exporting its services to Saint Lucia and Saint Vincent. Managing Director at the company, Andrew Roe, told us about this latest move.

 

Andrew Roe, Managing Director, RF&G Insurance Company Limited

“In late 2010 RF&G shareholders made the decision that we would expand into the Caribbean region, specifically the eastern Caribbean. COVID did throw a bit of delay not it, but in 2023 RF&G was successful in acquiring a company that was domicile in Saint Lucia and also operates in Saint Vincent. The company is called M&C General Insurance. What that does is RF&G has been able to hone in a system and insurance company here in Belize that we feel is effective and profitable. We have now been able to export that structure into Saint Lucia and Saint Vincent. Our intention is that we are able to grow that business in those markets and for Belize we often hear about exporting raw products, agricultural products, this is exportation of a service. The people who work for RF&G are now engaged in operations in other countries, they are learning  cultures and new ways of doing things and it has created employment. Many people may see RF&G advertising for new people, part of that is because we have expanded into another country and we need people who can help provide the services in Saint Lucia, in Saint Vincent from Belize and that is only expected to continue to grow.”

Even as tensions rise between the Joint Union Negotiating Team and the Government of Belize, the Ministry of Public Service is keeping the party going. Despite ongoing protests, sickouts, and even a formal trade dispute over salary increases, the Ministry went ahead with its Public Service Worker Appreciation Day. That’s right, while union members are demanding an eight-point-five percent raise and warning of a possible strike, public officers from across the country gathered today for a celebration filled with prizes, surprises, and motivational speeches. So, is this a moment of gratitude or a distraction from the storm? News Five takes a closer look, starting with Freya August, Chair of the Public Service Day National Committee.

 

Freya August, Chair, Public Service Day National Committee

“ We had a national walk, so the public officers coming from north, south, east and west, including San Pedro, came here to walk to celebrate the fact that we are proud to be public officers. This is a part of the ongoing celebration, as you’ve said, in celebrating. Public service. This year actually makes twenty years since Belize has signed on to the United Nations Public Service. So we wanted to do a different event as opposed to public officers walking in their individual districts. We asked them to all come to Belmont Plan and walk together.”

 

Britney Gordon

“And what’s the theme that you guys are celebrating under this year?”

 

Freya August

“Five years to 2030, accelerating public service delivery for a sustainable future. That team was adopted from the un. Each year we would normally have a team competition, and that would be among the public officers. However, this year for the milestone, we decided to have a poster competition.”