TCI Opposition questions selection of VI firm as examiner of health insurance board
Governor Daniel-Selvaratnam had said further to submissions to Cabinet from the Ministry of Health and the Ministry of Finance concerning the governance and financial oversight of the NHIB, she was satisfied that there appeared to be reasonable grounds that the financial viability of the NHIB was at risk or posed systemic risks to the public finances.
“Accordingly, in line with section 39(2)(b)(i) of the Public Finance Management Ordinance, I have appointed Interpath (BVI) Ltd as the Examiner, to examine the financial affairs of the National Health Insurance Board.”
According to the governor, Interpath is a global advisory firm with offices in the VI, Bermuda, Cayman Islands as well as throughout the UK and Europe and that they provide support across a wide range of restructuring and advisory areas including financial restructuring, financial disputes and operational transformation.
Responsibilities of Interpath (BVI) Ltd
The Examiner, according to Governor Daniel-Selvaratnam, will have the following powers and responsibilities:
* To examine the financial records, statements, and accounts of the National Health Insurance Board.
* To assess the financial management practices and compliance with statutory obligations.
* To review the internal controls and governance structures related to financial operations.
* To prepare and submit a report detailing findings and recommendations to the Governor.
Opposition’s concerns
The People’s Democratic Movement (PDM) has; however, criticised the recruitment of Interpath (BVI) Limited, describing it as a firm with no local presence being given oversight of such a vital aspect of public health.
PDM has said this raises concerns about the effectiveness of external oversight.
"Will they truly understand the unique challenges faced by the NHIB, or will their recommendations reflect a one-size-fits-all approach that may not resonate with our community’s specific needs,” the opposition party questioned.
They are urging the Governor and her Cabinet to consider a more inclusive and thorough examination of the NHIB’s governance structure – one that evaluates all members and incorporates community input. They said this "may not only restore confidence but also ensure the long-term sustainability of the NHIB.”
Governor Daniel-Selvaratnam has noted that the decision to remove the Board and appoint an Examiner was not taken lightly, however, "it is a necessary step to protect the future of the NHIB and to restore confidence in its ability to deliver on its mandate.”
The governor has reassured residents who rely on the NHIB for medical coverage and services, that measures are in place to maintain the continuity of services.
An interim leadership structure oversees operations while a full review and restructuring process takes place.
Interpath
According to interpath.com, Interpath in the Virgin Islands is led by Managing Directors Paul Pretlove and Charlotte Caulfield, further supported by Directors James Drury and Johnny Law.
It said its VI practice supports clients across restructuring, forensics and advisory services, and is backed by an international firm of over 700 experts.
"Our BVI team work across sectors, and have particular experience in navigating the complexities of crypto currencies and digital assets.
"We also boast the only BVI IP who is fluent in Mandarin and Cantonese in Director Johnny Law," the website informed.
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12 Responses to “TCI Opposition questions selection of VI firm as examiner of health insurance board”
Ms Caufield left interpath last year. She does not appear on the interpath website.
Fluency in Madarin and Cantonese is critical to review the National Health Insurance Board of the Turks and Caicos Islands!