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Q: How do you view the health of the insurance sector in The Bahamas? We have the largest premiums per capita and premiums to gross domestic product in the region, outside of the US and Canada.
So, we have a large, vibrant domestic insurance industry and it continues to be that way.
Prudential supervisory and regulatory responsibility falls to the Office of the Registrar of Insurance Companies, currently under the auspices of the Ministry of Finance.
The office is mandated to protect the interests of policyholders by ensuring the solvency and orderly functioning of insurers, re-insurers and intermediaries operating in The Bahamas.
He is a member of the board of the Securities Commission of The Bahamas and has sat on The Central Bank of The Bahamas board, as well as previously serving as a director of the Bank of The Bahamas Ltd.
Mc Cartney is a graduate of the University of Windsor, Ontario, Canada.
In addition there is a bit more flexibility in supervising and licensing external insurers, as the external environment changes so rapidly.
The act allows the commission to see how The Bahamas would like to position itself in the international insurance business.
We subscribe to those standards and we are committed to meeting them.
Corporate governance, capital requirements, solvency requirements, related-party transaction requirements are all the key areas of this legislation.
Q: What are the most relevant provisions in the External Insurance Act?
A: While it also brings the jurisdiction up to international standards, it was designed a little differently than the Domestic Insurance Act.
The core of the act is minimalist and any additional regulations do not require debate or to be passed by the House [of Assembly], which allows us to be more flexible.Tags: Adult Dating, affair dating, sex dating