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December 16, 2015
NHI stakeholder meeting 'six months late', insurance consultant says
With fewer than two weeks left ahead of the government's proposed January launch for National Health Insurance (NHI), private sector stakeholders and the government's NHI Secretariat yesterday held closed-door talks addressing the lingering unresolved issues surrounding the healthcare scheme and its impact on the healthcare sector - a discussion that one local insurance professional argued was "si...
December 14, 2015
Bahamas engages regional insurance facility after Joaquin denial
Minister of the Environment and Housing Kenred Dorsett yesterday told Guardian Business that the government would likely host representatives from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) in early January 2016 in part to ensure that The Bahamas is not again denied vital storm insurance following a critical compensation snub from the organization following Hurricane Joaquin.
Finance ministry denies reversal on VAT on insurance
November 29, 2015
Finance ministry denies reversal on VAT on insurance
The Ministry of Finance has taken "strong exception" to the suggestion that officials in the ministry and the VAT (value added tax) Department have reneged on the understanding of insurance policies renewed before July 1, 2015 and how they are to be treated under VAT.
November 30, 2015
Health Insurance industry 'discussing NHI contingency plans'
TENSIONS between the government and insurance stakeholders are likely to grow after PLP Chairman Bradley Roberts likened the industry to a cartel last week, with one industry insider telling The Tribune yesterday that stakeholders are discussing contingency plans in case the Christie administration fails to incorporate some of its proposals into its National Health Insurance scheme...
VAT on insurance
November 27, 2015
VAT on insurance
The Ministry of Finance takes strong exception to the report in today?s newspaper, which suggests that officials in the ministry and the VAT Department have reneged on the understanding of insurance policies renewed before July 1st, 2015 and how they are to be treated under VAT.
A.M. Best affirms ratings of Family Guardian Insurance Company Limited and Famguard Corporation Limited
October 21, 2015
A.M. Best affirms ratings of Family Guardian Insurance Company Limited and Famguard Corporation Limited
A.M. Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating (ICR) of "A-" of Family Guardian Insurance Company Limited (Family Guardian).
September 10, 2015
Too early to tell if VAT on insurance dampening industry
An insurance sector professional yesterday stated that while it is too early to tell whether the introduction of value-added tax (VAT) on insurance premiums has driven persons to drop their insurance coverage, a three percent premium tax in place long before VAT was "fait accompli" and is not going away anytime soon.
August 20, 2015
Insurance association: Govt consultation claims 'disingenuous'
The Bahamas Insurance Association (BIA) has - for the second time in only a handful of days - lashed out at the government's handling of the preparation for implementing a universal health coverage system.
Insurance industry to propose alternative to NHI
March 10, 2015
Insurance industry to propose alternative to NHI
Even as the government seeks to give the impression of the inevitability of the implementation of National Health Insurance (NHI) by January 2016, Guardian Business understands that the insurance industry is still trying to come to terms with the decision to impose value-added tax (VAT) on medical insurance premiums and healthcare in The Bahamas, given the belief of many in that industry that VAT ...
March 15, 2015
Insurance industry concerned about VAT implementation, Osborne says
While there do not appear to have been many hiccups in the implementation of value-added tax (VAT), the president of the Bahamas Institute of Chartered Accountants has acknowledged that there remains confusion in the insurance industry.
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