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Benefits and Assistance
REQUEST FOR EXPRESSIONS OF INTEREST
3/26/2021 12:20:32 PM
The National Insurance Board (NIB) is seeking suitably qualified companies to provide managed inform...
NAMING CEREMONY OF THE ORVILLE A. TURNQUEST BUILDING
3/25/2021 11:29:56 AM
Board Members, along with senior officials of NIB attended a ceremony to name the National Security ...
VIDEO - NIB Unsung Hero - Tami Francis
2/12/2021 4:50:33 PM
The National Insurance Board salutes unsung hero Tami Francis.
VIDEO - NIB unsung Hero - Quincy Arthur
2/11/2021 10:24:43 PM
The National Insurance Board salutes unsung hero Quincy Arthur.
VIDEO - NIB Unsung Hero Lawrencine Knowles
1/25/2021 5:06:02 PM
The National Insurance Board salutes unsung hero Lawrencine Knowles.
VIDEO - NIB Unsung Heroes Chairman Troy Smith
1/25/2021 3:35:17 PM
NIB Chairman Troy Smith salutes the unsung heroes of the National Insurance Board.
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NIB Concludes Payment Arrangements With Several Companies to Expedite Unemployment Benefit (UEB) Payments
4/7/2020 6:33:32 PM
The National Insurance Board is pleased to advise that a number of the processes have been innovated to rapidly get Unemployment Benefit (UEB) payments to claimants, and is concluding agreements with several companies which would allow for the expedited payment of the UEB, for an initial four weeks, or longer if necessary.
Through these special payment arrangements, NIB will be paying almost 9,500 persons their UEB claims at an estimated cost of $4.5 million for the first 2 weeks of benefit once the payment agreements have been concluded, and the claims have cleared the audit process. The audit process is nearing completion so unemployment benefit payments should be dispersed early this week.
Arrangements are being made for some companies to pay the Unemployment benefit on NIB’s behalf to their eligible laid off workers in two-week segments. Many of these companies will receive a contribution payment credit based on the amount that they would have paid to eligible staff. NIB is also working with another 20 large companies to utilize this innovative payment method for UEB, which will add to the number of persons who will be paid quickly. NIB anticipates that 14,000 -15,000 claimants can be handled through these arrangements.
Remarking on this innovation, NIB’s Director, Dr. Nicola Virgill-Rolle, stated that “NIB’s current system processes between 6,000 to 7,000 unemployment claims per year, and we are anticipating a tripling of this volume within the first quarter of the year. With such an extraordinary number of claims coming all at once, Management has to deal with this unprecedented increase in an extraordinary manner if we were to pay as many people as possible in the shortest possible timeframe.”
It was noted that this innovative payment approach allows NIB to focus on those unemployment claims linked to companies which were not up to date with their contributions. NIB is working with these companies to update their C-10 postings to ensure that their former staff would have the necessary contributions on record to qualify for the unemployment benefit.
One of the eligibility requirements for the Unemployment Benefit is that the applicant should have worked 7 weeks in the last 13 weeks. Therefore, if recent C-10 forms have not been submitted, the employee may not meet this requirement. In those cases, NIB is pursuing these companies to submit the information on C-10 forms and the required B80 (Lay Off Certificate) for each employee. NIB assures customers that notwithstanding their former employers’ arrears, they can still be eligible for the unemployment benefit.
In all cases, Employees
must submit their claim applications to NIB
where they are simultaneously entered into the insurance administration system in order to be properly audited.
The Director also thanked the Staff, Management, and Executive Team of NIB for their rapid adjustment to the swift changes that had been made to the Board’s business, including the introduction of remote work and switch to mostly electronic applications.
NIB encourages other organizations to also make similar payment arrangements to enable to Board to pay persons quicker for the unemployment benefit. Companies interested in making such arrangements for the payment of UEB should send an email to:
For more information regarding NIB benefits, visit the NIB website under COVID-19 Updates link at: www.nib-bahamas.com/NIB-BAHAMAS-COVID-19-Alerts
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Bahamas Weekly Article - Phase I of National Prescription Drug Plan
2/11/2010 10:37:00 AM
By Matt Maura Marsh Harbour, Abaco, Bahamas - The National Prescription Drug Plan will provide free medications for 11 chronic, non-communicable diseases to 35,000 Bahamians in its initial stage, Tami Francis, Drug Plan Project Manager said Tuesday.
Gregory Collie Gets NIB Directors Award
2/5/2010 9:40:17 AM
Last year, staff of the National Insurance Board (NIB) embraced the slogan “Excellent Customer Care Starts With ME!” At NIB’s 2010 Leaders Conference, held on Paradise Island in January, Director Algernon Cargill told leaders that the focus of this excellent care must not be limited to the external customer, but should be directed to the internal customers as well. To demonstrate his administration’s commitment to promoting the wellbeing of the internal customer – NIB staff – he announced a number of initiatives, including the establishment of a “Director’s Award” which would annually honor those individuals whose outstanding achievements, dedication, leadership, customer service and expertise would have made a significant impact on the organization and its mission over the previous year.
NIB STAFF BRIEFED ON NATIONAL PRESCRIPTION DRUG PLAN
2/4/2010 11:06:15 AM
Top Managers and Customer Service staff of the National Insurance Board received a detailed briefing Tuesday on the National Prescription Drug Plan (NPDP) which is expected to be launched by April 2010.
Press Response to a letter from the Nassau Institute
9/21/2009 12:00:00 AM
The National Insurance Board (NIB) wishes to address and correct “facts” advanced by the Nassau Institute in a letter to the Editor, published in the Nassau Guardian of Saturday, September 19, 2009, and referenced in a Tribune article on September 21, 2009. In that letter, the Nassau Institute incorrectly suggested that National Insurance is proposing an 84.1% increase in taxes
NIB Press Release On Report of 8th Actuarial Review of the National Insurance Fund
9/4/2009 12:00:00 AM
On September 2, 2009, Prime Minister the Right Honourable Hubert Ingraham, tabled in the House of Assembly the report of the 8th Actuarial Review of the National Insurance Fund, which was completed and formally presented to Government in 2008. The Report, which covers a review period from January 2002 to December 2006, gives a comprehensive assessment of the current and future finances of the National Insurance Fund, and reviews the state of the country’s primary social security system from a social standpoint, assessing the adequacy and relevance of the level of benefits now offered. The Review, like all others prior to it, makes recommendations designed to strengthen both the social and financial aspects of the Fund to ensure that National Insurance is able to meet its obligations well into the future. It takes a historical look at past trends and experiences as well as makes financial forecasts for the future. Demographic and financial projections up to 2066 have been presented.
Press Release By the National Insurance Board
7/23/2009 12:00:00 AM
A “business person in Fox Hill” suggested in a letter to the Editor (What’s Going on at NIB? – Tribune 23/09), that with the recent move of Inspectors from the National Insurance Board’s Fox Hill Local Office to its Jumbey Village Local Office in the Clifford Darling Complex, the Board’s operations in Fox Hill will close down. According to Greg Collie, Senior Manager for Compliance with responsibility for the Inspectorate, nothing could be further from the truth. He said the Fox Hill Local Office is not closing down.
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