Home Business St. Thomas business JAMES: CLARENDON WON'T STOP WRITING POLICIES

JAMES: CLARENDON WON'T STOP WRITING POLICIES

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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.

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