Association of Trinidad and Tobago Insurance Companies
"Our Goals transcend the one company or the one individual"
The following is a Chronicle of Achievements by the Association of Trinidad and Tobago Insurance Companies since its revitalization in 1977.
While there is a significant amount of on-going work at the Board, sub-committee and Secretariat level, this list focuses on those areas which have seen results from ATTIC's continuous effort at unifying, strengthening and promoting the insurance industry.
About these achievements ATTIC is justifiably proud!
ATTIC achieves Equity Participation in the state-owned Reinsurance Company of Trinidad and Tobago Ltd. for its members and non-members alike.
ATTIC achieves a merger with the Life Assurance Association of Trinidad and Tobago and becomes the sole body representing the majority of companies in the insurance industry both Life and General
ATTIC successfully launches and conducts an intensive 3 month campaign culminating in a Fire Prevention Week.
ATTIC commissions the writing of a textbook on Life Insurance Law by Dr. Claude Denbow.
On May 1st 1981 the Joint Secretariat Corporation JSC is established comprising of ATTIC, the Trinidad and Tobago Insurance Institute TTII and the Life Underwriters Association of Trinidad and Tobago LUATT.
ABICOTT Association of Business, Industrial and Commercial Organisations of Trinidad and Tobago.
ATTIC appoints a representative on the ABICOTT board to preserve and represent the interests of the insurance industry.
ATTIC wins an opportunity for Equity Investment by its membership in the UTC.
ATTIC nominates a representative along with an alternate to sit on the Board of the state-run NIB.
ATTIC appoints a second Director to the Board of TRINRE allowing both sectors of the industry Life and General to be represented.
The textbook on Life Insurance Law by Dr. Claude Denbow is published and becomes the first local and regional text on the subject.
ATTIC introduces a central index recording information from member companies on the movement of salesmen among various companies. This is aimed at resolving questions of ethical conduct.
ATTIC establishes a statistical project on money, burglary and public liability losses to assist in the assessment of these risks by member companies.
ATTIC launches a Public Information project focusing on public education and industry statistics. The Information and Liaison Service is a direct outcrop of this project.
ATTIC, by reason of its shareholding nominates two Directors to serve on the Board of the new bank. Insurance companies are classified as Class D shareholders with an allocation of 30% of the bank's initial equity.
With increasing numbers of AIDS cases in the country, ATTIC makes a financial contribution to Dr. Courtney Bartholomew to assist with AIDS research.
'Insurance Fax' a cartoon created by ATTIC's P.R. Committee, beings appearing in the daily newspaper.
As a result of an increase in negative advertising ATTIC writes to member companies requesting them to review of their advertising and P.R. material.
An alarming increase in car thefts causes ATTIC to embark on a nationwide drive to raise awareness among the public and encourage the use of additional precautionary measures to secure vehicles.
As a result of the events of July 27th 1990 and faced with a barrage of negative publicity from an irate public, ATTIC enters into numerous discussions with the business sector and Government in a relentless effort to find a favourable solution to the situation and agrees to two test cases being presented to the Privy Council.
The Association actively achieves a plan to have 100% of Life Insurance Companies as members of ATTIC.
After years of planning and preparation, the Motor Claims Data Bank becomes operational.
Government accepts ATTIC's proposal for the establishment of a Catastrophe Reserve Fund. The fund is intended to provide insurers who offer cover for catastrophic risks with a pool of money from which they will draw down to meet losses arising out of those risks
After several years of dormancy, ATTIC's quarterly publication 'ATTIC on the Move' is re-introduced.
An information and educational brochure highlighting current and topical issues is introduced by ATTIC's P.R. Committee.
ATTIC hosts a conference entitled "Major and Urgent Issues Facing the Insurance Industry in the Nineties". Attending this conference is Prime Minister Patrick Manning and other cabinet ministers.
At a special general meeting member companies approve ATTIC's amended constitution.
ATTIC's 'Help Desk' is established to receive consumers' insurance complaints.
The Association launches its Code of Ethics and Statements of Standard Practice with all member companies committing to the tenets and agreeing to follow and adopt the insurance practices outlined.
ATTIC works with this committee to plan for any possible fallouts that many result from the changing of the millennium. A special edition of 'ATTIC on the Move' is also produced and circulated
ATTIC expands its membership classification to include associate and subsidiary members in addition to ordinary membership.
ATTIC spearheads a drive to prepare the industry for any issues or fallouts that may result from the events of September 11th 2001. One such fallout is the anthrax scare and ATTIC organises a seminar to alert the industry and prepare personnel to deal with any such attacks
After thirty-six years as an Association ATTIC elects Inez Sinanan as its first female President.
ATTIC effectively participates in the development of government's Vision 2020 plan. Several of ATTIC's directors as well as member company executives work with the various government committees and working groups to develop plans for Vision 2020.
The supervision of the insurance industry is transferred from the Supervisor's of Insurance in the Ministry of Finance to the Central Bank. With this change ATTIC begins working closely with the industry's new regulator.
As a result of the escalating crime wave ATTIC representatives begin meeting weekly with other Private Sector Organisations. Collectively ATTIC and the PSOs call on Parliament to collectively deal with crime.
ATTIC embarks on a series of activities and events in celebration of its fortieth anniversary. The first is a seminar to discuss the Impact of the CSME on the Insurance Industry.
ATTIC contributes financially to the Central Bank's National Financial Literacy programme
ATTIC's Insurance Act team continued work on the insurance Legislation.
Establishment of ATTIC's Legal Aid Tribunal.
Establishment of Long Service Awards to honour persons who served for 10 years or more on ATTIC's Sub-Committees
ATTIC's Insurance Act team continued work on the insurance Legislation.
ATTIC promotes Careers in Insurance
