From 2010 to last year, $668,000 was paid from a Government fund to assist Bermuda policyholders of British American Insurance Company.According to financial statements for the Government Reserves Fund, the money was paid to provide “a short-term liquidity facility” to the private health insurance claimants due to the liquidation of British American.The statements were released by Government in the House of Assembly.“This act by the Progressive Labour Party Government enabled Bermudian health insurance claimants to continue to receive funds during the early process of the liquidation proceedings,” the Finance Ministry said in an accompanying statement.“It also facilitated the seamless provision of health insurance coverage for British American health insurance policyholders who were given the opportunity during this time to transfer to a health insurance plan offered by Argus Insurance.”The Ministry continued: “The Government Reserves Fund was established in May 2005. Funds received from the United States on the closure of the Baselands, and other donations to the Government of Bermuda that do not have any specific purposes are paid into this Fund,” the Ministry said in the statement.“Since the establishment of the Fund the Progressive Labour Party Government has sought to use these resources to assist the people of Bermuda.”Asked if Government would get any of the money back as part of the liquidation process of British American, a spokesperson for Finance said: “Under the terms of the Facility, the Ministry is similar to all other unsecured creditors in the liquidation of the company.“Accordingly an unsecured claim of $667,581 in favour of the Ministry has been recorded by the company; The Official Receiver/Liquidator of the company made an interim distribution to Scheme Creditors of the company representing 35 percent of Scheme Creditors’ claims.“Accordingly, the Ministry of Finance has already received $233,653 representing 35 percent of their claim in the winding up of the company, equal to that of any other creditor.”