News

Remarks by Mr. Algernon Cargill, Director
The National Insurance Board
At the 8th Abaco Business Outlook, Marsh Harbour, Abaco
Wednesday, September 21, 2011
“Supporting the Commonwealth and Common
Good through Innovation”

Sam Walton, founder of the Wal-Mart chain believed that his stores should reflect the values of its customers and support the vision they hold for their community. I believe that the laws we make as a people and the provisions we make for the support and betterment of our community are reflective of the quality of our citizenship and of our characters as individuals. The way a community treats and provides for its most vulnerable members speaks volumes not only of our vision for the collective, but also of our values and of our consciences.

It is to our credit as a people that, in building the Commonwealth of The Bahamas, we conceived of National Insurance and established it in 1974, just a year after we gained independence from Britain. National Insurance is fundamentally about assisting in the development of The Bahamas by providing social security for the people of The Bahamas. At its core is the notion that no Bahamian should be abandoned without the basic necessities of life and a way to preserve personal dignity. That this was the intention of the founders is reflected by the inclusion of the word ‘Commonwealth’ in our country’s formal name.

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