All of the islands’ insurance companies converged as one, for an early morning breakfast meeting on 18 January. The industry leaders gathered at the invitation of Ronald Hughes, Board Member of the IAC and Managing Director of Guardian General Insurance (OECS) Ltd. to welcome the CEO and the President of the regional body, the Insurance Association of the Caribbean (IAC).
President of the IAC & CEO of Guardian Life, Jamaica, Eric Hosin, welcomed all present and spoke of the plans made over the years, to visit all island territories. He noted that these were finally being realised, starting with the visit to Grenada, on the heels of the strategic planning retreat held at the annual IAC conference. The session challenged the original mandates and objectives of the organisation, to ensure their continued relevance to the industry. Unanimous agreement was reached that consultation meetings throughout the Caribbean would be imperative for forward movement, with an integral part of these sessions being the inputs from each territory’s insurance entities.
Janelle Thompson CEO of the IAC shared a brief history of the organisation, established in 1974, and its goal to provide an umbrella entity and act as the agent for support and change within the insurance sector. She stated, “our mission is to promote and foster the advancement of the IAC, as a non-profit organisation, to this end we must work towards harmonising insurance and accompanying legislations, across the Caribbean, for their growth and advocacy. We need to remain valid in our efforts to serve the needs of all member companies in the region.”
Hosin appealed to the sector saying, “we need your involvement. A united voice is a strong voice, one that can be better heard across the region. But to unite we have to share information, so that a robust framework can evolve from which to achieve an agenda for the good of all. This will enable us to lobby for the advancement and betterment of the industry in the Caribbean,” he concluded.
The consultation closed with a Q & A opportunity for Grenada’s insurance company representatives.
Insurance Association of the Caribbean