Property insurance boost for consumer

By NEIL HARTNELL

Tribune Business Editor

Hard-pressed Bahamian consumers are set to enjoy some modest New Year cheer in one respect, Tribune Business can reveal, as general insurance carriers move to lower property insurance premiums in 2011.

This newspaper's contacts informed it yesterday that one Bahamas-based general insurance underwriter, RoyalStar Assurance, had already decided to lower pr...

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Higher insurance costs expected as reinsurers shirk risk in region

Increasing catastrophic natural disasters have reduced the appetite of reinsurers for certain kinds of risk in this region, paving the way for increases in the cost of insurance next year, Bahamas First's Group Senior Vice President and Chief Operating Officer Warren Rolle told Guardian Business yesterday, adding that it is not yet know, though, what level of ...

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Govt to renew parametric insurance as hurricane season begins

The Bahamas' parametric insurance provided by the Caribbean Catastrophe Risk Insurance Facility SPC (CCRIF) should be renewed by today, Prime Minister Philip Davis said yesterday. His announcement comes as meteorologists track two disturbances that could potentially bring heavy rain and thunderstorms to The Bahamas. One of the disturbances, which will be in the area by tomorrow ...

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Businessman Mario Carey Urges Insurance Company Reform, Liberalize Whole Life, Extend Health Coverage

Less than one week after insurance companies asked the Insurance Commission to allow them to invest in U.S. funds, a leading businessman is calling for a lifting of similar restrictions on the consumer, declaring that Bahamians should be allowed to seek coverage from companies outside the jurisdiction.

“The laws that govern how and where Bahamians can obtain health and life insurance hurt the...

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Insurance Commission Partners With Lupus 242 For Second Consecutive Year

For the second consecutive year, the Insurance Commission of The Bahamas has partnered with Lupus 242 for lupus awareness month. This year marks a decade since the local non-profit has set out to raise awareness and provide support to its members. Thanks to the generous donation from the Insurance Commission, Lupus 242 will, once again, assist group members with the purchase of medication and phar...

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Jamaica studying Bahamas unemployment insurance

JAMAICAN officials are in The Bahamas studying its unemployment insurance programme as part of their feasibility study concerned with introducing the benefit to their country.

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BIA: More than half of Dorian insurance claims settled

Destruction on Abaco following the passage of Hurricane Dorian.More than half of the insurance claims related to Hurricane Dorian have been settled, Acting Chairman of the Bahamas Insurance Association (BIA) Anton Sealy said yesterday. The industry is expected to pay out almost $2 billion in claims. Sealy, who was speaking at the BIA's [...]
The post BIA: More than half of Dorian insurance claims ...

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Bahamas First launches country's first online portal to purchase insurance

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Insurance assoc. assures benefits in cases of COVID vaccine-related death

The Bahamas Insurance Association (BIA) released a statement yesterday assuring life insurance policyholders that death benefits will be executed as per their contracts in the event that they die from complications related to COVID-19 vaccination, after claims to the contrary made the rounds on social media recently. The BIA also touted the use of vaccines ...
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Govt seeks contributory insurance for agriculture and fisheries sector

The Ministry of Agriculture and Marine Resources is seeking buy-in from local farmers and fishers to establish contributory insurance for the sector, its minister said yesterday.

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