Trinidad Express) Central Bank directors have ordered that St Clair-based Motor and General Insurance Company’s operations remain suspended for 45 days.
The order started on August 14 and follows an initial suspension of the company’s business for 60 days on June 15 by Inspector of Financial Institutions at the Central Bank, Carl Hiralal.
Hiralal said than the suspension was put in place to protect policyholders as the company was struggling to maintain the required quantity of money in its statutory fund.
All new business has been suspended but existing insurance policies remain in force, he said.
The Central Bank said in a published statement on Sunday that the Motor and General’s offices will remain closed “until further advised”.
