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January 17, 2012
Sunshine Insurance Marathon Bahamas - Full Marathon Results
Junkanoo Beach - Nassau, Bahamas January 15, 2012
Overall Male Winner
Overall FirstName LastName Country Age 10K 21K 30K GunTime NetTime Pace
1 Bryan Huberty USA 33 36:41 1:16:56 1:51:12 2:42:53 2:42:53
6:13
Overall Female Winner
3 Angela Cobb USA 28 38:35 1:22:34 2:00:56 3:00:17 3:00:15
6:53
Overall Male Masters Winner
5 Jerome Pontrelli USA 43 43:26 1:30:45 2:11:00 3:08:56 ...
Leaders discuss future of insurance sector
January 19, 2012
Leaders discuss future of insurance sector
Strengthening The Bahamas' insurance sector is a key ingredient to improving financial services in the country.
This is what led The Bahamas Financial Services Board (BFSB), the Insurance Commission of the Bahamas (ICB) and Ernst & Young to host a breakfast briefing recently to update key stakeholders on developments in the insurance sector at the British Colonial Hilton.
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BFSB and regulator to host insurance update
January 11, 2012
BFSB and regulator to host insurance update
Pic of Arvind Baghel e-mailed by Natario
NEW developments and initiatives within the insurance sector will be discussed during a breakfast briefing next Tuesday hosted by the Bahamas Financial Services Board (BFSB) and the Insurance Commission of the Bahamas (ICB), in collaboration with corporate sponsor Ernst & Young.
The ICB representatives will update participants on regulatory developments a...
BFSB to host briefing on insurance sector
January 13, 2012
BFSB to host briefing on insurance sector
The Bahamas Financial Services Board (BFSB) and the Insurance Commission of The Bahamas (ICB), in collaboration with corporate sponsor Ernst & Young, will host a breakfast briefing on Tuesday, January 17, in which an update on developments in the insurance sector will be discussed. Special guest Philip Burrill, a partner in The Bahamas, Bermuda and Cayman Islands (BBC) sub-area of Ernst & Yo...
INSURANCE BROKERS: OVER 25 TO 'FALL OFF'
January 04, 2012
INSURANCE BROKERS: OVER 25 TO 'FALL OFF'
By NEIL HARTNELL
Tribune Business Editor
MORE than 25 per cent of all existing Bahamian insurance brokers and agents are unlikely to be licensed under the new Act governing the sector, the Insurance Commission told Tribune Business yesterday.
Arvind Baghel, the regulator's head of insurance supervision, confirmed to this newspaper that around 25 of the existing 85 insurance brokers and agents -...
Colina Insurance launches 2010 corporate calendar
December 20, 2011
Colina Insurance launches 2010 corporate calendar
The 2012 corporate calendar of Colina Insurance Limited was launched last evening and showcased the promise of sports within the country as thirteen young teams and athletes were highlighted as "The Brightest Young Stars of Sports", the theme of this year's calendar. Shot by photographer and graphic designer, Scharad Lightbourne, the images caught various young athletes in their individual s...
Small firms struggle with Insurance Act
September 30, 2011
Small firms struggle with Insurance Act
With the deadline for registering under the Insurance Act arriving today, industry leaders say small-to-medium-sized operators are having trouble meeting the new requirements, which could result in mergers, acquisitions or perhaps some firms falling off the radar entirely.
The new act, meant to bring local insurance companies up to code when it comes to standards, regulations, transparency and eff...
Experts call insurance estimate 'ridiculous'
September 19, 2011
Experts call insurance estimate 'ridiculous'
While a leading catastrophe modeling firm has revised its insurance losses estimate for Hurricane Irene, local experts believe the number is still grossly exaggerated.
AIR Worldwide reduced the losses for The Bahamas to between $200 and $400 million, down from its August 26th $300-to$700 million estimate.
But Brice Ferguson, president of Professional Insurance Consultants, said the revised figure ...
April 01, 2011
Customs Bond Letter and National Insurance Payments Issue Resolved VIDEO
The Grand Bahama Port Authority's commitment to business owners in Freeport hinges primarily on its ability to provide key incentives provided through the Hawksbill Creek Agreement. But this year, there was a new challenge to the provisions of that agreement by a new government policy which required that licensees provide proof that their businesses were up to date on their National Insurance...
Insurance Firms to See Huge Claims
August 29, 2011
Insurance Firms to See Huge Claims
Insurers in the Caribbean could face as much as $1.1 billion in claims, according to an international catastrophe risk management company, and The Bahamas will account for nearly 60 percent of those losses.
The Boston-based company, AIR Worldwide, said between $300 million and $700 million in insured losses have been estimated for The Bahamas, while the Caribbean region is estimated to be between...
Homeowners scramble for insurance
August 24, 2011
Homeowners scramble for insurance
At least one insurance provider is reporting an increase in renewals, upgrades and even new policies as the threat of Hurricane Irene - and millions of dollars in damage - hits home.
The situation has been more true for individual coverage rather than businesses, said the head of Summit Insurance, Timothy Ingraham.
"Businesses in recent times will look to see where they can save money," he told Gu...
August 09, 2011
New Chief Executive Officer to the National Insurance Board in TCI
Turks and Caicos Islands - The Government is pleased to announce the appointment of Mr Colin Heartwell as the new Chief Executive Officer for the Turks and Caicos Islands National Insurance Board.? Mr Heartwell will begin his three year contract at the end of August.
Mr. Heartwell is a senior executive with two decades of business management experience in various areas of economic development.?...
July 15, 2011
Some small businesses see 50 health insurance premium hike
Some small businesses have seen group health insurance premiums leap 50, even 70 percent -- an uncommon event they may have little control over, that nevertheless could jeopardize their businesses.
McCartney to continue as superintendent of insurance
July 07, 2011
McCartney to continue as superintendent of insurance
Following a report in this newspaper that there was nobody at the helm of the Insurance Commission, Guardian Business has learned that Lennox McCartney will continue as superintendent until his replacement has been selected.
No Superintendent At Helm of Insurance Commission
July 06, 2011
No Superintendent At Helm of Insurance Commission
The top seat at the Insurance Commission of the Bahamas (ICB) has been vacant since Thursday - when the appointment of outgoing Superintendent Lennox McCartney expired.
Teachers, Union at Odds Over Insurance
November 06, 2010
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 ...
'Revoke' insurance licences of banks
June 29, 2011
'Revoke' insurance licences of banks
By NEIL HARTNELL
Tribune Business Editor
The Bahamas Insurance Brokers Association's (BIBA) president has called for the revocation of agency/brokerage licences held by commercial banks, telling Tribune Business the situation creates "a really unfair playing field" that prevents smaller firms from competing and squeezes them out of the market.
Vaughn Culmer, of Vaughn Culmer & Associates, told ...
Income drop for Summit Insurance in 2010 fiscal year
June 24, 2011
Income drop for Summit Insurance in 2010 fiscal year
Tough market conditions caused total comprehensive income for Summit Insurance Company Limited in the 2010 fiscal year to decline by 34.5 percent to $2.9 million -- down from $4.5 million the previous year.
Summit Insurance managing director Timothy Ingraham told Guardian Business yesterday that challenges in the auto insurance segment contributed to the decline, but indicated that property pre...
More than 1,000 BUT members lose medical insurance
October 31, 2010
More than 1,000 BUT members lose medical insurance
By DENISE MAYCOCK
Tribune Freeport Reporter
dmaycock@tribunemedia.net
MORE than 1,000 members of the Bahamas Union of Teachers lost their medical insurance cover last night, BUT President Belinda Wilson has confirmed.
The union scrapped the self-funded medical scheme following a lack of interest among the 4,000-strong membership.
"Today, it is very sad for us to announce that effective Sunday...
October 27, 2010
Insurance agency gains 3,000 policies, 3.5m in premium
By NEIL HARTNELL
Tribune Business Editor
A leading Bahamian insurance agent yesterday said it would gain some 3,000 policyholders, paying collective gross premiums of $3.5 million per annum, as a result of absorbing the general insurance portfolio of another intermediary in which its ultimate parent acquired a majority interest in August 2010.
John Dunkley, managing director of Nassau Underwrit...
Timothy Ingraham still excited about insurance
March 10, 2011
Timothy Ingraham still excited about insurance
Once upon a time, a young student of accounting averse to boredom found an industry that paid him to learn, rewarded him when he did, offered upward career movement opportunities and excitement.
To some it may sound like a fairy tale, but it is the beginning of Timothy Ingraham’s insurance career. Today he is managing director of Summit Insurance and has served as the chairman of the Bahama...
Insurance company's license cancelled
February 23, 2011
Insurance company's license cancelled
Around $500,000 worth of insurance policies with Atlantic First?Insurance Company have been cancelled following the Insurance Commission of The Bahamas’ decision to revoke the company’s license.
As of yesterday, Atlantic First has been directed to cancel existing insurance policies and refund unearned premiums to policyholders. Superintendent of Insurance Lennox McCartney said actions...
Downtown blaze reveals value of fire insurance
February 16, 2011
Downtown blaze reveals value of fire insurance
At least $7-10 million in building value was wiped out by the Valentine’s day fire, which devastated the offices of Betty K Agencies and several surrounding buildings, according to one insurance specialist, and the destruction should serve as a reminder of the value of fire insurance.
Chairman of the Bahamas Insurance Association Timothy Ingraham told Guardian Business yesterday that, withou...
Insurance - Medical, Health & Accident
Rt. Hon. Hubert A. Ingraham On the Sale of BTC to Cable & Wireless Communications, Plc. (CWC)
February 08, 2011
Rt. Hon. Hubert A. Ingraham On the Sale of BTC to Cable & Wireless Communications, Plc. (CWC)
Communication by Rt. Hon. Hubert A. Ingraham On the Sale of 51% of Bahamas Telecommunications Company To Cable & Wireless Communications, Plc. (CWC)
Mr. Speaker,
At the conclusion of my communication I will table the following documents related to the privatization of The Bahamas Telecommunications Company (BTC) and the sale of 51% of the shares in BTC to Cable and Wireless Communications...
April 25, 2024
Deputy Director: Without An Increase, There Will Be A Deficit
NASSAU, BAHAMAS - The clock is ticking to an "across-the-board" increase in National Insurance; come July first contributions go up 1.5%.
Bahamas Jubilee Games Budget Blown By Over $1M
April 19, 2024
Bahamas Jubilee Games Budget Blown By Over $1M
NASSAU, BAHAMAS - The Office of the Auditor General's examination of last year's Bahamas Jubilee Games found unauthorised salary increases, misuse of petty cash, a failure to pay national insurance board contributions and unauthorized vehicle purchases.
Protests Continue As Nib Blames Pressure On Fund
December 04, 2019
Protests Continue As Nib Blames Pressure On Fund
THE National Insurance Board cited mounting pressure on its fund due to job losses and business closures brought on by Hurricane Dorian, as the agency said it is trying to work with its staff union to conclude a new labour contract...
April 18, 2024
Multiple fiscal failures found in Bahamas Jubilee games audit
UNAUTHORISED vehicle purchases and salary increases, misuse of petty cash, and a failure to pay National Insurance Board (NIB) contributions are some of the fiscal shortcomings highlighted in the Office of the Auditor General's examination of last year's Bahamas Jubilee Games.
Spending irregularities reported after Bahama Games
April 18, 2024
Spending irregularities reported after Bahama Games
$5.5 million spent on Bahamas Jubilee Games, $1 million more than government allocation NASSAU, BAHAMAS — The Auditor General's Report examining the accounts of The Bahamas Jubilee Games has revealed that the government spent $5.5 million funding the games, just over $1 million more than the government's initially allocated amount. The Auditor General also raised [...]
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