Tag: CINICO
CINICO moves into property insurance
(CNS): The government-owned Cayman Islands National Insurance Company, which in March announced that it had extended its offerings to include motor insurance, has now moved into the home insurance business. CINICO is offering parametric insurance to homeowners, either as part of its basic package or as a separate policy.
CINICO offers car insurance, home cover soon come
(CNS): Almost two years after the government-owned Cayman Islands National Insurance Company (CINICO) announced that it would begin offering more than just health coverage to civil servants and locals who cannot get coverage in the private sector, it has begun offering motor insurance to all Cayman residents. This expansion of services will be followed shortly […]
Tertiary healthcare spending already over $24M
(CNS): Government’s spending on healthcare for people who are uninsured or under-insured is already more than CI$13.9 million over budget and there are still four more months of the year to go. The line item in the annual budget known as NGS55, the allocation of spending on tertiary healthcare at both local and overseas hospitals, […]
MPs vote CI$8M more for healthcare bills
(CNS): Finance Committee has voted another CI$8 million to cover healthcare costs for Caymanians who are uninsured or under-insured and have been treated outside the Health Services Authority facilities. When the committee met at the end of the last session of Parliament to deal with supplementary spending, health ministry civil servants told MPs that healthcare […]
CINICO to offer insurance to all in major expansion
(CNS): The government-owned insurance company, CINICO, is being expanded to provide affordable health insurance for more people outside of the public sector, including the elderly and those with pre-existing conditions. Finance Minister Chris Saunders also said CINICO will be refunded to allow it to provide auto and home insurance for government workers. The main aim […]
Miller: Profit must go from health insurance
(CNS): North Side MLA Ezzard Miller, who has been calling for a single-payer system to address the increasingly problematic provision of health insurance in the Cayman Islands, believes that the profit motive must be removed from the insurance side. Last month government opened a tender process to find consultants to examine the publicly-owned health insurance […]
Bid proposes CINICO as sole national provider
(CNS): Government has opened a request for consultants to review its health insurance company, CINICO, and present an outline business case for the future of the public company which could see it become the sole national health insurance provider in a single-pay system. One of several options, including doing nothing, scrapping the company altogether, privatising […]
Premier issues stark warning on healthcare
(CNS): Premier Alden McLaughlin has warned that employers and workers will have to pay more into private pension schemes because many retirees are not able to cover health insurance costs when they quit work, which means government is picking up their costly medical bills. As members of Finance Committee voted Monday for an additional $11.5 […]
CINICO faces review as CIG pours in cash
(CNS): The finance minister has said the Cayman Islands National Insurance Company (CINICO) is undergoing a review to see if it is fit for purpose. Roy McTaggart told his colleagues in the Legislative Assembly on Wednesday that the government-owned insurance company was under strategic analysis to arrive at some recommendations for government about its future.
CINICO boss sacked by board
(CNS): In an unexpected announcement, the Cayman Islands National Insurance Company board of directors said that CEO Lonny Tibbetts has been fired. The news was delivered in a short statement from the board, which is chaired by Patricia Estwick, via GIS on Monday. The long-time public servant has been at the helm of the government-owned health insurance company, […]
$6M more voted for healthcare costs
(CNS): The opposition member for Bodden Town West, Chris Saunders, urged the health minister to consider a national health insurance plan for the Cayman Islands, after Finance Committee voted last week to give the ministry another $6.5 million to cover indigent healthcare costs for the remainder of this year. Saunders said that the current situation […]
