83.9 F
Charlotte Amalie
Wednesday, July 17, 2024
HomeNewsArchivesJAMES: CLARENDON WON'T STOP WRITING POLICIES

JAMES: CLARENDON WON'T STOP WRITING POLICIES

May 6, 2002 – Clarendon Insurance Group will not stop writing group and individual health insurance policies in the territory, Lt. Gov. Gerard Luz James II said in a release issued Sunday.
Clarendon had said in November 2001 that it would no longer write policies effective June 1. However, it sent the Banking and Insurance Division of the Lieutenant Governor's Office a letter on May 1 stating that it had changed its mind.
A letter to customers from a local insurance agency indicates the company had trouble finding reinsurance. No one could be reached at Clarendon for further information.
However, Jeannette Saldana, an agent at Topa Insurance Services on St. Thomas, said the company has secured reinsurance, but she has not received the name of the company. She said she was relieved to learn that Clarendon would stay. "We were concerned about patients that had pre-existing conditions," she said.
Customers with pre-existing medical conditions often have a hard time finding new insurance.
Saldana said Topa has 60 customers insured through Clarendon.
Maryleen Thomas, who heads the Banking and Insurance Division, said that health and life insurance companies are not required to file for rate increases with her office. While this means they can raise their premiums at will, she said, Clarendon agreed to an increase suggested by an actuary when it took over Atlantic Southern's policies some time ago.

Publisher's note : Like the St. John Source now? Find out how you can love us twice as much — and show your support for the islands' free and independent news voice … click here.

Print Friendly, PDF & Email
Keeping our community informed is our top priority.
If you have a news tip to share, please call or text us at 340-228-8784.

Support local + independent journalism in the U.S. Virgin Islands

Unlike many news organizations, we haven't put up a paywall – we want to keep our journalism as accessible as we can. Our independent journalism costs time, money and hard work to keep you informed, but we do it because we believe that it matters. We know that informed communities are empowered ones. If you appreciate our reporting and want to help make our future more secure, please consider donating.

UPCOMING EVENTS