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Creque's Insurance Agency Limited

Enforcement Action
Industry Type:
Enforcement Action:
Enforcement Summary:
An amended Directive was issued pursuant to section 40 (1) (a) of the Financial Services Commission Act, 2001 to Creque’s Insurance Agency Limited*, amending the earlier amended Directive issued on 17 August 2012. The new Directive amended the earlier Directive as set out below: 1. By revoking paragraph 1A of the amended Directive and replacing it with the following paragraph: (i) 1A: On or before 31 October 2012, to transfer all Gulf Insurance Limited Non-Property insurance policies whatsoever, including but not limited to Motor, Workmen’s Compensation, Employer’s Liability, Public Liability, Products Liability, Personal Accident and Marine issued or placed through Creque’s Insurance to another licensed insurer in the Virgin Islands. *Note: An Order has been issued by the Eastern Caribbean Supreme Court, in the High Court of the Virgin Islands imposing a stay on the transfer of policies by Creque’s Insurance Agency Limited pursuant to the Directive issued to Creque’s Insurance Agency Limited.
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