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Algernon Cargill, Director of the National Insurance Board (NIB), was one of the speakers at the 2010 Bahamas Business Outlook, held on January 14, at Wyndham Nassau Resort on Cable Beach in New Providence. His topic, “A Leading Company and a Company that leads,” shared with members of the business community and a wide range of professionals, important features of NIB’s newest benefits and outlined plans for strengthening the National Insurance system. His presentation was a part of a public relations drive to educate Bahamians about NIB’s planned changes.

Mr. Cargill explained the rationale for the PR drive: “The people of The Bahamas, employers and employees, the young and the old are the stakeholders of the National Insurance Board. It is important that they understand and buy into all that we do. I see myself and my team at NIB as merely stewards or trustees of an invaluable national asset.”

“Over the next few months,” he said, “I will personally be very much a part of the education programme. The PR campaign is designed to reach groups across the economic spectrum and in communities throughout the islands. We want to share what we’re doing not only about programmes, but also about staff training and the ongoing updates to technology and communication systems to bring our service to the highest levels. The changes don’t mean that NIB has not been meeting the mandate for which it was established in 1974. People change and their circumstances and needs change. This is a new age and this country’s social security system, National Insurance, must change consistently to meet 21st century needs.”

Mr. Cargill’s appointment as director in 2009 was a key part of NIB’s self-assessment and renewal strategy, which included infusing the Executive Team with new energy and perspective. He brings a wealth of experience and skills to the task. Mr. Cargill’s professional background includes more than two decades in banking, a career which took him across the region. His last position as a banker was as General Manager, Branch Banking, CIBC Bahamas Ltd., in which capacity he led all Delivery Network (Branch and Electronic Banking) activities for the organization’s Branch network in The Bahamas and Turks and Caicos. His responsibilities comprised network planning and optimization strategies, capital and resource management, sales, service and people management.

Moving from banking to the challenging world of oil companies where his performance led to many prestigious awards, Mr. Cargill eventually attained the position of District Manager and Country Chairman, Chevron Puerto Rico LLC, his district covering Puerto Rico, USVI, Antigua, St. Kitts, St. Maarten, St. Martin, Dominica and St. Lucia. His areas of oversight encompassed sales, service, marketing, risk management, and financial performance of the network, an involvement that recommended him highly to lead the shaping of the National Insurance Board’s 21st century profile and performance.

“We have already made considerable strides in making the necessary reviews and updates, including three significant achievements over the past few months,” Mr. Cargill continued. “Last year we rolled out NIB’s new Unemployment Benefit Programme and will launch the Chronic Disease Prescription Drug Plan later this year. Both of these initiatives will bring significant relief to those who are jobless through no fault of their own and the chronically ill.”

At Bahamas Business Outlook and other public forums over the course of 2010, Mr. Cargill said he would be discussing these new benefits, as well as the proposed amendments to the National Insurance Act, which have been forwarded to Parliament. He called the amendments “long overdue”, noting that they are directed at bringing about greater equity in levels of contributions and benefits.

The NIB director gave an example of a particular instance. “People whose income sources tend not to be a straight wage, such as hospitality industry workers, currently have a contribution plan that does not reflect true income in many cases. As the contribution amount dictates benefit levels, this current situation puts many at a disadvantage especially when it comes to pensions,” Mr. Cargill said. He noted that anomalies in the contributions and benefits plan for public servants were also being addressed with the review and backing of the relevant unions.

You can download the full text of Mr. Cargill's speech by clicking here.