News

The National Insurance Board has paid the claims of 11,662 persons who have lost their income as a result of COVID-19 amounting to just over $5.4 million for the first two-week payment of the unemployment benefit (UEB).

Recognizing the gravity and level of lay offs, the National Insurance Board worked with large employers to expedite UEB payments. NIB continues to encourage employers with 20 or more employees to contact the Director at director@nib-bahamas.com or the Financial Controller at SGill@nib-bahamas.com to establish a UEB arrangement which will allow their employees to be paid faster. This approach permits NIB to focus its efforts on working out arrangements with companies who have not filed their C10 contribution statements which delays the processing of applications of their former employees.

While much of the focus at NIB has been on the unemployment benefit, NIB continues to process thousands of ongoing sickness, maternity and industrial injury benefit claims. Additionally, new applications for retirement and other pensions continue to be processed.

With respect to the Government’s Unemployment Assistance (GovUEA) Programme, as at Thursday 8th April, 2020, NIB has approved some 2,188 applications and processed payments valued at $816,000 representing 2 weeks of unemployment assistance to eligible self employed persons.