Changing of the guard at CLICO

Changes continue to be wrung at the financially troubled CLICO (Guyana) and the most recent has seen a change in the security arrangements for the offices of the insurance company.

Yesterday morning, the Guyana Police Force took over the security of the company’s head office at Camp Street replacing the Premium Security Services, whose services were terminated yesterday.

The order for the termination of these services was given by the Judicial Manager of the company Maria van Beek. In a letter addressed to John Sandy of Premium Security Services and signed by van Beek, Sandy was asked to immediately surrender all assets (including keys) of CLICO (Guyana) under the possession of the guard service to Administrative Manager Dinanauth Deodat, who had been authorized to uplift these items on the Judicial Manager’s behalf.  This letter carried yesterday’s date.

Although this has been rumoured to be another cost-cutting initiative by the company, reliable sources have told this newspaper that the decision to terminate the services of the Premium Security Guard Service was also due to dissatisfaction with the company’s performance.

Last week over 40 employees of the insurance company were fired and the company’s two Georgetown branches in Lamaha and Irving Streets were closed.  The agents that were housed at these two branches have now been relocated to the company’s head office.  These actions were declared to be cost cutting measures by van Beek, even as the company tries to address its liquidity issues.

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