Cindy Scotland, managing director of the CIMA, outlines the strength of the Islands’ offering and addresses cause for further optimism.
It is an exciting time to be in the insurance business in the Cayman Islands. The industry is vibrant and there is an energy here that is fostering—and is fostered by—innovation, says IMAC’s chairman, Rob Leadbetter.
Cayman has the chance to develop its already dominant position in captive healthcare thanks to the Affordable Care Act, but opportunities also abound in geographies like Latin America and in lines such as workers’ comp.
Hollywood, politicians and the media are all trying to tarnish the gold-standard reputation that Cayman has worked hard to achieve, but the Island’s captive industry and regulators are fighting back.
Cayman has further developed its capabilities in the cell captive space through the introduction of the portfolio insurance company, as the jurisdiction looks to stay on the cutting edge of captive developments.
In the age of social networking and global media, a company’s reputation is under siege at every corner. The captive concept can provide valuable protection to this intangible, but invaluable, asset.
Domicile selection can be a challenge, particularly in light of the diversity of options. James Rawcliffe of Sagicor talks us through his experiences and the relative merits of three of the leading global domiciles.
Captive formations and premium growth is as much about a desire for control as it is about the market cycle, with captives providing an invaluable ERM tool to parent companies, finds AM Best.
Cayman captives are increasingly converting to segregated portfolio companies, particularly in the healthcare sector and as a result of US healthcare reform. Paul Scrivener and Stefanie Suckoo at Solomon Harris review the conversion process and the options available to captives.
Michael Frick, writing for US healthcare risk management consultant Pendulum, details how protecting providers’ responses to adverse medical events can help strengthen healthcare delivery.