Topic: insurance
Legal loophole leaves Cayman accident victims exposed to financial ruin
A loophole in the Cayman Islands' motor insurance regime is leaving road accident victims at risk of financial ruin.
PwC Cayman wins two Captive Review awards
The Cayman office of international financial services firm PwC has been awarded a brace of accountancy accolades.
Survey: Cybercrime and misuse of AI among top risks for insurance industry
Cybercrime and the misuse of artificial intelligence, are among the top risks to the insurance industry, a new survey has found.
Cyber risk in the Cayman Islands: Why protection is no longer optional
Cyber risk is one of the fastest-growing threats to households, employees and businesses in the Cayman Islands.
The case for business interruption insurance
Business interruption insurance is designed to protect a company’s financial health when operations are disrupted due to insured damage.
Mind the gap: Could you be at risk of underinsurance?
Underinsurance is a risk that becomes very visible, very quickly in the event of disaster. It occurs when the insured value is insufficient to cover the rebuild cost of a property in the event of a fire, hurricane or major catastrophe.
Actuary calls for more Caymanians to join profession
More young Caymanians should consider training as actuaries to meet future demand, according to a professional in the field.
Insurance industry adds $233M a year to Cayman economy, study says
The report showed that the insurance industry directly employed 256 people, with almost half of the posts held by Caymanians.
CEO of US insurance giant asks Trump to halt ‘unhealthy’ Cayman competition
The head of a giant US life insurer has appealed to President Donald Trump and regulators to crush Cayman's life reinsurance business.
Bermuda lobbying claim over Cayman US insurance status bid
Sources in both jurisdictions have claimed Bermuda has launched a lobbying campaign in an effort to hinder Cayman’s bid to gain US ‘qualified jurisdiction’ status in the insurance business.
Former CIMA insurance head dies
Members of Cayman's insurance industry have paid tribute to Gordon Rowell, who died last week.
2023 sees decade-high issuance of international insurance licences
The Cayman Islands Monetary Authority issued more new international insurance licences last year than it had in any other single year in more than a decade.
Insurance industry faces changing customer needs
A new report by EY has found that amid rising geopolitical and economic uncertainty more people want protection for what they value the most, representing growth opportunities for innovative insurers who can meet these evolving customer needs.
CG completes acquisition of Massy United
Bermuda-based Coralisle Group has acquired a 100% interest in Massy United Insurance of Barbados.
Climate change’s biggest threat may be to Cayman’s economy
One of the greatest climate-associated risks facing the islands is the threat that insurers could pull out of Cayman, a global risk specialist has warned.
Captive insurance activity picks up
The number of domestic Class A insurers that offer services locally declined last year.
CIMA: Insurance industry statistics point to successful year
Cayman Islands Monetary Authority has licensed 20 new insurers or reinsurers in the first six months of 2021.
On heels of Dorian, homeowners urged to update insurance policies
Homeowners should regularly update their home insurance policies to ensure they are adequately covered should a hurricane or other natural disaster strike, according to Island Heritage Insurance Company Senior Vice President and Chief Underwriting Officer Evelyn Tibbetts-Farrar.
CIMA issues 16 new insurance company licences, total number drops
The Cayman Islands Monetary Authority has issued 16 new insurance and reinsurance company licences in 2019 to date.
Ghost of CarePay haunts collections
The lack of real-time electronic verification of and authorization for health insurance coverage in the Cayman Islands is driving up costs and “the frustration level” for everyone involved, lawmakers heard Monday afternoon.
New captive formations ahead of 2015
The Cayman Islands has seen 33 new captive licensees in the first three quarters of 2016, well ahead of the 22 and 24 new captives licensed in the full years 2015 and 2014, respectively.
Life insurance consolidator Phoenix to leave Cayman
Phoenix Group, the largest specialist closed life and pension fund consolidator in the U.K., has announced plans to restructure its business and leave both the Cayman Islands, where it is registered, and Jersey, where the group is headquartered.
Healthcare costs skyrocketing, minister says
The Cayman Islands has 345 outstanding “loans” to residents who do not maintain healthcare coverage, with unpaid balances of $12.3 million owed to government.
