Tag: Cayman Islands Insurance Association
CIIA urges residents to make insurance claims asap
(CNS): Homeowners whose property was damaged by Hurricane Beryl should contact their insurance providers as soon as possible, the Cayman Islands Insurance Association has said. Insurance providers can receive and assist with claims, CIIA said, but prompt communication is crucial to ensure they are processed efficiently and effectively. However, the association said that most insurance […]
Reinsurance sector ‘thriving’ in Cayman, expert says
(CNS): The reinsurance sector in Cayman is thriving, according to Graham Mackay, the chairman of the Cayman International Reinsurance Companies Association. Mackay was one of a number of local delegates who took part last week in the annual New York breakfast briefing, the first after a three-year hiatus due to the pandemic, hosted by representatives […]
Insurance sector expects to ration costly cover
(CNS): The Cayman Islands Insurance Association (CIIA) has confirmed that customers in the Cayman Islands can expect their property insurance premiums to go up this year by as much as 30% and that cover will likely be rationed as a result of the decline in the availability of insurance cover. The association issued a warning […]
Insurance sector warns of massive 2023 rate hike
(CNS): Homeowners can expect another significant hike in their bills next year as the local insurance industry is warning that property insurance premiums will increase significantly, with some people seeing hikes of as much as 30%. As inflation bites on grocery and utility bills and interest rates push mortgages to their highest for decades, this […]
Insurers had to trust gov’t over benefit scheme
(CNS): Following the announcement that the health ministry was going to help hundreds of workers pay their health insurance premiums during the COVID-19 lockdown, insurers were forced to trust government because how it was going about this benefit scheme was not made clear, CNS has learned. The industry body issued a statement, Wednesday, saying insurers […]
