Cayman shines at insurance meet

The Cayman Islands was featured prominently recently at a conference in Vancouver.

Premier McKeeva Bush was one of more than 30 delegates from the public and private sectors who attended the Risk and Insurance Management Society’s Conference and Exhibition from 1-5 May.

Cayman has been an exhibitor for more than 10 years at RIMS, which has the largest attendance of any North American risk management conference. This conference facilitates meetings and potential new business by private sector insurance managers and the Cayman Islands Monetary Authority. It also presents an opportunity to meet with delegates of other jurisdictions and reinforce those important relationships.

“Throughout the years, the Cayman Islands presence at RIMS has enabled us to showcase our jurisdiction as the domicile of choice for captive insurance companies. But it also gives us an opportunity to speak about new developments in our insurance industry, which has been a market leader for many years,” said Mr. Bush.

He addressed more than 200 people on the Insurance Law, 2010, and increased regulatory powers as well as publicly thanked clients.

In attendance on behalf of the Cayman Islands were IMAC Chairperson Mrs. Monique MacDonald; CIMA’s Deputy Head of Insurance Supervision Mr. Dwight Merren; as well as representatives from over 20 private sector companies, including banks, insurance managers and auditors.

“This year’s conference and exhibition was well received. Vancouver was a great venue for RIMS 2011 and exhibiting there provided us with the opportunity to meet risk managers and other delegates from various market segments,” Mrs. MacDonald said.

“Conference attendees experienced a taste of the Cayman Islands with the ever-popular Tortuga rum cakes, as well as having an opportunity to meet with our representatives and discuss captive insurance business,” she said.