November 13, 2017
The Bahamas Insurance Association (BIA) continues to build relationships with and dialogue on issues affecting the sector with the Government of The Bahamas. Most recently, executives of the BIA paid a courtesy call on the office of the Attorney General, The Honourable Carl Bethel.
The BIA contingent, led by chairman, Emmanuel O. Komolafe, sought to introduce the Attorney General to the BIA and its objectives. In addition to highlighting the stability of the insurance industry and its consistent contribution to the local economy, the team stressed the need for a liberalized exchange control regime and a number of other legal concerns affecting the industry’s future growth potential and ongoing operations.
The meeting also provided the opportunity to discuss the proposed amendments to the AML/CTF framework for the industry via the Financial Transactions Reporting Bill, a priority for both the Attorney General’s office and the industry. Both parties committed to engaging in further dialogue on this matter.
Ultimately, the Attorney General acknowledged the significant role of the insurance industry to The Bahamas and its economy and committed to addressing the concerns of the BIA and its members.
Pictured L to R front are Dr. Rhonda Chipman Johnson, Coordinator, BIA; The Hon. Elsworth Johnson, Minister of State, Ministry of Legal Affairs; The Hon. Carl Bethel, Attorney General; Emmanuel Komolafe, Chairman, BIA; Back L-R are Cassandra Nottage, Consultant; Tleca Rolle, Consul; Bede Sands, Orry J Sands, Member of Legislation Committee; Marco Rolle, Permanent Secretary, Ministry of Legal Affairs; DeAndrea Lewis, Colina Insurance; Charlyne Sealy, Summit Insurance, Member of Legislation; Michelle Dean, Assistant Director of Legal Affairs; Tina Roye, Director of Law Reform & Revision.
L-R Charlyne Sealy, Summit Insurance, Member of Legislation Committee; Dr. Rhonda Chipman-Johnson, Coordinator, BIA; Emmanuel Komolafe, Chairman, BIA.
ABOUT THE BAHAMAS INSURANCE ASSOCIATION: The Bahamas Insurance Association (BIA), formerly known as the Bahamas General Insurance Association (BGIA), is a trade association of insurance companies, brokerages, and agencies licensed by the Insurance Commission of The Bahamas, dealing in all lines of General (property and casualty) and Long Term (life and health) insurance business. Its main purpose is the representation of the interests of the Insurance industry to the Bahamian Government and People, and to other local and international bodies.