Further to submissions to Cabinet from the Ministry of Health and the Ministry of Finance concerning the governance and financial oversight of the National Health Insurance Board (NHIB), I am satisfied that there appears to be reasonable grounds that the financial viability of the NHIB is at risk or poses systemic risks to the public finances.
Accordingly,
1. In line with section 39(2)(b)(i) of the Public Finance Management Ordinance, I have appointed Interpath (BVI) Ltd as the Examiner, to examine the financial affairs of the National Health Insurance Board. Interpath is a global advisory firm with offices in the BVI, Bermuda, Cayman Islands as well as throughout the UK and Europe.
They provide support across a wide range of restructuring and advisory areas including financial restructuring, financial disputes and operational transformation. The Examiner will have the following powers and responsibilities:
▪ To examine the financial records, statements, and accounts of the National Health Insurance Board.
▪ To assess the financial management practices and compliance with statutory obligations.
▪ To review the internal controls and governance structures related to financial operations.
▪ To prepare and submit a report detailing findings and recommendations to the Governor.
2. In line with section 39(2)(b)(ii) of the Public Finance Management Ordinance, I have revoked the appointment of the Directors of the National Health Insurance Board with effect from 7th
March 2025 and on the advice of Cabinet have appointed interim directors
to take over the management of the National Health Insurance Board as listed below:
▪ Interim Chair – Mrs Shonia Been
▪ Deputy Governor or her representative
▪ Attorney General or her representative
▪ Permanent Secretary Finance or her representative
▪ Permanent Secretary Health or her representative
▪ Director of Health Services (Chief Medical Officer)
▪ Director of the National Insurance Board
▪ Interim Chief Executive Officer of the National Health Insurance Board
This decision follows a review of the NHIB’s financial management and operational practices, which identified concerns regarding accountability and fiduciary responsibility. It is essential to ensure the integrity, sustainability and effectiveness of the NHIB as an institution that plays a
vital role in the well-being of the people of the Turks and Caicos Islands. The decision to remove the Board and appoint an Examiner was not taken lightly. It is a necessary step to protect the future of the NHIB and to restore confidence in its ability to deliver on its mandate.
I recognise that this situation may cause concern among residents, particularly those who rely on the NHIB for medical coverage and services. I want to assure the public that measures are in place to maintain the continuity of services of the NHIB. An interim leadership structure will oversee operations whilst a full review and restructuring process takes place.
The priority remains to ensure that healthcare services continue uninterrupted and that the NHIB is positioned to serve the people's needs more effectively in the future.
The Ministry of Health will keep the public informed on the progress of the review and restructure process.
The respective instruments of appointment and revocation will be published in the Official Gazette.
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