JIIC Replaces Dyoll's Jamaican Insurance Policies New, fully paid-up policies issued to Dyoll's former policyholders

Kingston, March 16 -Jamaica International Insurance Company Limited (JIIC) has provided insurance cover to replace the Jamaican policies previously issued by Dyoll Insurance Company Limited. The coverage takes effect from March 7, 2005 for policies covering motor and accident classes; and from March 11, 2005 for policies covering property classes and any other policies.

JIIC is in the process of issuing documentation to former Dyoll policyholders. Each new JIIC policy is initially for the remaining term of the Dyoll policy it replaces, and is considered fully paid up for the remainder of that term, without requiring any further premium payment by the policyholder. The new JIIC policies cover the same risks, are for the same sums insured, and are generally on the same terms and conditions as the Dyoll policies previously held by the policyholders. Client queries can be directed to Andrew Levy or Grace Burnett at 1-888-CALL-JIIC (1-888-225-5544).

JIIC has effectively relieved Dyoll of the liability to refund its policyholders unearned premium for the remaining terms of Dyoll's Jamaican policies, and this cost has been absorbed by JIIC with the issuing of the replacement policies on a fully paid-up basis.

A subsidiary of Grace, Kennedy & Co. Limited, JIIC is rated financially secure by A.M. Best, the internationally respected insurance-rating and information agency. "This is a sterling opportunity to garner new clients, but more importantly we are interested in nurturing lasting relationships with our new policyholders by providing the highest quality service and sound financial security," said Don Wehby, Chief Operating Officer of the Financial Services Division of GraceKennedy.

Posted: March 17, 2005