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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National Health Insurance Enrolment begins April 24

Beginning April 24, 2017, the National Health Insurance (NHI) Secretariat will launch phase two of NHI Bahamas, which is enrolment...

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

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Komolafe: As hurricane season looms, govt must make insurance more accessible

As the June 1 start of hurricane season looms, government is still considering the removal of value-added tax (VAT) from insurance, Deputy Prime Minister Peter Turnquest told Guardian Business yesterday. Meanwhile, the insurance sector continues to be concerned that VAT is discouraging Bahamians from purchasing [...]
The post Komolafe: As hurricane season looms, govt must make insurance more acces...

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BFSB expects captive audience for insurance event

By STAFFâ WRITER
Guardian Business
The Bahamas Financial Services Board(BFSB)and its association partners the Bahamas Institute of Chartered Accountants(BICA)and the Insurance Institute of the Bahamas(IIB), in collaboration with corporate sponsors KPMG and RBC Wealth Management, will host a one-day insurance orientation seminar for the local business community on Monday, September 20.
The e...

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Teachers, Union at Odds Over Insurance

A group of concerned teachers yesterday shot down claims by the
Bahamas Union of Teachers (BUT) that there is no medical insurance company willing to take them on, because teachers are high risk claimants.

The educators, who have formed themselves into a group called
'The Teachers", held a news conference at A.F. Adderley Junior
High School. They claim that Partners Health, the same company ...

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