LIEUTENANT GOVERNOR VARGRAVE RICHARDS REPORTS BACK FROM CONFERENCE OF
THE INSURANCE ASSOCIATION OF THE CARIBBEAN, INC.
Lieutenant Governor Vargrave A. Richards, recently returned from participating
in the 23rd Conference of the Insurance Association of the Caribbean
in Punta Cana, the Dominican Republic, states that he was pleased to
have had the opportunity to network and dialogue with other leaders
of the Industry throughout the Caribbean.
In particular, Richards stated that he engaged Industry officials in
the support of holding next year's conference on St. Thomas. Richards
feels that: "It would afford the Territory a great opportunity
to network with regional and international Industry officials in an
effort to expand capacity and volume in the Territory."
Further, Richards states: "Despite the challenges before us, we
can support the theme of this year's conference "The New Dawn"
as an avenue to overcome challenges and to improve relations at all
levels of the Industry, to forge strategic partnerships regionally and
internationally, with insurance institutions, regulatory bodies and
governmental legislators."
During the conference, Richards met with a host of representatives
whom, like Richards, are eager to advance Association goals to impact
the Caribbean market and to further economic development and participation
across the region. Hot topics included: Reinsurance Capacity in the
Caribbean; The Application of Technology in the Management of Insurance
Companies; Insurers as Leaders in the War on Spiraling Healthcare Costs;
Special Risks Insurance and Crisis Management of Insurance Companies;
and many, many more topics pertinent to improving delivery and capacity.
Lieutenant Governor Richards discloses that his trip, accompanied by
Division of Banking and Insurance Director Deverita Sturdivant was fruitful
and insightful in its content and possibility for future expansion.
