A half-day seminar set to be offered on the basics of forming and operating a captive insurance company will provide a "Captives 101" education for anyone in or new to the industry, the Bahamas Financial Services Board (BFSB) announced yesterday.
The BFSB, in collaboration with the Insurance Commission of The Bahamas (ICB) and the Insurance Institute of The Bahamas (IIB), will host the seminar on November 26, at the British Colonial Hilton Hotel.
The leader of the seminar will be Marcy Waterfall, a senior vice president in the Vermont office of Marsh's Captive Solutions Group.
The program also includes a presentation from the ICB, which will deal with the regulatory environment for service providers.
BFSB CEO Aliya Allen said the event will be of relevance to anyone new to the captive insurance industry - or anyone who just wants to reinforce what they already know.
Captive insurance basics has been structured as an introductory level seminar that will cover the basics - a "Captives 101" approach - and will include: typical structures, benefits of a captive program, feasibility analysis, forming a captive, operating a captive, regulatory considerations, and accounting and tax considerations. Included in the program will be case studies.
For nearly 20 years, Waterfall has been helping companies form and operate captive insurance companies.
She is a graduate of the University of California at Berkeley. She is also a certified public accountant (CPA) and holds the associate in risk management (ARM) designation from the Insurance Institute of America.
Marsh is the world leader in delivering risk and insurance services and solutions to clients. It provides global risk management, risk consulting, insurance broking, alternative risk financing, and insurance program management services for businesses, public entities, associations, professional services organizations, and private clients.
Marsh's Captive Solutions Group has more than 450 employees dedicated to captive management for more than 1,220 captives worldwide.
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