There is a troubling trend of uninsured vehicles and motorcycles on local roads and Minister of Industry, International Business, Commerce and Small Business Development, Donville Innis, is calling for stiffer penalties where accidents occur and there is no insurance coverage.
Speaking at the 154th anniversary celebrations last night of Lynch Insurance Brokers Ltd., and the opening of their new offices at Sky Mall, Haggatt Hall, St. Michael, Mr. Inniss pointed out that while he was Minister of Health he encountered many individuals and families who suffered great physical pain and financial ruin due to accidents with no insurance coverage.
He added: ???whilst, money cannot bring one back alive, it certainly eases the pain of survivors.??? The Minister, therefore, invited insurance companies in Barbados to join with those of like minds and mount a public education programme about the importance of insurance coverage.
While commending Lynch Insurance Brokers Ltd. for being one of the first insurance agents in Barbados to offer a number of incentives, Mr. Inniss cautioned that today???s clientele was demanding more from their insurance brokers and insurance companies.
???Gone will soon be the days of the traditional placement of basic coverage. Today and in the foreseeable future clients, especially corporate clients, are seeking a more enterprise wide advisor. Our computer age is demanding analysis of risks formerly not considered???You have to be ahead of the game and identify ways to finance and cover risks which may not be effectively covered through traditional insurance,??? he underscored.
Noting that it was important to ???stick with your clients through tough times as they have and undoubtedly will, stick with you in good times???, the Minister urged staff members to simply ???stay ahead of the game???.
???Forge strategic alliances, invest in your staff, technology, research and good management as necessary tools for sustaining a relevant, nimble and vibrant company. Always ensure that each customer is forever your most important customer and success will continue to attend you for a very long time,??? he advised.