Insurance
IMAC books self-help guru for annual talking-shop
(CNS Business): The author of the self-help book, The 5 Second Rule, and award-winning CNN contributor Mel Robbins will top the bill at the 25th Cayman Captive Forum this year, organisers of the conference, Insurance Managers Association of Cayman (IMAC), have said. The industry talking-shop will include a line-up of relevant sector contributors but the […]
CIMA names two new deputy heads
(CNS Business): The Cayman Islands Monetary Authority (CIMA) has promoted two staff members to top positions within the organisation, as of 1 June 2017. Suzanne Sadlier was named deputy head of the Insurance Supervision Division and Judiann Myles was appointed deputy head of the Compliance Division. Sadlier has been a reinsurance specialist at CIMA since joining […]
Health insurance firm U-turns on Shetty hospital
(CNS Business): Following a memo sent to British Caymanian Insurance customers last month by management blocking cover for treatment at Health City Cayman Islands in East End, the firm has made an about turn, and in a joint statement with HCCI has announced it will now extend cover to all services at the facility. BritCay […]
Insurance firm blocks cover at Health City
(CNS Business): British Caymanian Insurance Company (BritCay) will not cover patients to attend Health City Cayman Island for any treatment unrelated to cardiac care. In a memo sent to people who are insured by the agent that represents Colonial Medical Insurance, the firm said it wanted to review all the services that the hospital now […]
Boss fined $8,500 for not insuring workers
(CNS Business): A local employer has been fined $8,500 for failing to pay the necessary health insurance for a worker. Caytech Electronics and its owner, Marcelo Franca, admitted the infraction and pleaded guilty to not insuring the staff member and his family for almost two years. On 10 March Magistrate Angelyn Hernandez imposed the fine, […]
Business fined for health insurance offences
(CNS Business): A construction company owner fined by the courts for health insurance infractions did not have the option of avoiding appearing in the dock and paying an administrative fine, as allowed under amendments to the Health Insurance Law, because his offences occurred before the changes to the law were implemented.
CINICO settles $1.5M hospital bills
(CNS Business): Officials from the government’s health insurance company have confirmed that lawsuits filed against it in the US for not paying hospital bills of around US$1.5 million have all been settled. Lonny Tibbetts, the director of CINICO, said that both lawsuits filed in the Miami courts in November last year, relating to the treatment […]
Chamber Pension Plan appoints new acting Chairman
(CNS Business): Experienced financial services professional Eduardo D’Angelo Silva has been appointed as the acting chairman of the Chamber Pension Plan, following the recent resignation of Ashita Shenoy, who said she resigned in order to avoid any conflicts of interest that could arise from the plan’s investment in an audit client. “As a member of an audit firm, […]
$1,000 fines for health insurance offences
(CNS Business): Starting next month, the Health Insurance Commission will have the power to impose fines up to $1,000 for both employers and insurance companies for infractions of the health insurance law, though the accused person or company can still opt to take the matter to court instead of paying the fines and they will end up […]
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