The men filling the top two jobs on the board of the Cayman Islands National Insurance Company have effectively swapped jobs, with Seamus Tivnan taking over Scott Cummings’ role as chairman.
According to an announcement published in the government’s Cayman Islands Gazette Monday, Mr. Cummings, who has been chairman for three years, is now deputy chairman of CINICO and will serve in that capacity until the end of this month, while Mr. Tivnan will be chairman until the end of June 2014.
Speaking Tuesday from Dallas, Texas, to where Mr. Cummings and his family moved in January, the former chairman said the reshuffle had been agreed several weeks ago and was done to ensure that both the chairman and deputy chairman would not be leaving their positions at the same time.
“My term as chairman was due to end next year and the deputy chairman’s term was to end this year,” said Mr. Cummings, explaining that he and Mr. Tivnan opted to effectively switch their roles to ensure that the two positions would not be empty at the same time, as Mr. Cummings planned to relinquish his role as chairman at the end of this month.
Mr. Cummings’ term as chairman was originally due to end on 30 June, 2014.
“Basically, we flip flopped our terms,” he said, adding that the move was done to ensure ongoing stability on the board, as advised by the Auditor General’s Office in a report on CINICO last year.
“Originally, my term was to be for two years. The auditor general issued a report about a year ago and we had a hearing with the Public Accounts Committee, and one of the things the auditor general talked about was the stability of the CINICO board, making board members’ terms have a three-year limit instead of one year and staggering the terms so that you would not have an entire board turn over at any one time,” said Mr. Cummings.
Board members have historically been appointed for one year. The auditor general advised that board members should be appointed for a minimum of three years.
Mr. Cummings insisted the reshuffle was not political and is unconnected with the recent election. “This was all decided prior to the election, we knew this was going to happen in March and April,” he said.
The appointments are dated and effective 14 May, a week before the election was held.
Mr. Cummings and his family moved back to Texas, where he was born, in January and has been remaining in touch with CINICO staff and its board via email, BBM and videoconferencing. Since his departure from Cayman six months ago, there have been four board meetings, three of which he participated in using videoconferencing and one that he flew back to attend. He will return for a final meeting of the board as deputy chairman in mid-June.
“I’ve had a very good three years,” said Mr. Cummings. “I’ve enjoyed my time at CINICO. I’ve been really impressed with the quality of my fellow board members and management of CINICO. They’ve worked very hard.”
One of his last tasks as chairman was to help sign off in April on a five-year strategic plan for CINICO, which insures more than 13,000 people in the Cayman Islands, and he also worked with the government on its national health strategy released by the former health minister Mark Scotland in February.