Insurance
Insurance in the Cayman Islands, as it is in the rest of the developed world, is big business. Insurance companies here offer blankets of coverage that canvass a wide variety of the populaces’ needs. Both locally and internationally, insurance companies based in the Cayman Islands are worldwide, international players within the industry. It is a robust and growing business with limitless potential to grow. It behooves any operator in the industry – especially CEOs and Presidents – to look at our offshore locale as the potential domicile to grow and expand your business.
What Types Of Insurance Coverage Is Offered In The Cayman Islands?
Cayman Islands based insurance firms offer a robust suite of services. Not atypical from the types of services you might find in your home country. Locally there are several well-known companies that offer a wide range of services (listed later in this piece) but for starters you’ve got a wide range of companies offering property insurance, heath coverage and life insurance. Cayman also has companies that offer travel, liability insurance, marine coverage for your aquatic assets and policies that deal directly with professional indemnity. One thing you might not know is that the Cayman Islands is one of the leading nations in providing medical malpractice liability insurance. We truly have a little bit of everything, catering to a wide scope of insurance needs and services.
Can’t find the information you are looking for, use the
Cayman Islands GPT
Related Topics
Sponsored Ad
The Bare Bones Numbers
Who’s all here in the insurance game? Well according to CIMA (Cayman Islands Monetary Authority) there are more that 765 licenses for insurance as of just a few years ago. Of these, some ninety-four (94) and six hundred seventy some (670+) off firms directly deal with local and international domestic insurance markets. Big figures then… Twenty-six firms are licensed to do business on-island and nearly seventy brokers on the island buttress those firms. Additionally, close to seven hundred Class B, C & D companies are conducting business that is directly insurance services related. The Cayman Islands are the biggest market for “healthcare captives” capturing around one third of that market segment. The biggest chunk of that cake is medical malpractice business – or “MedMal” – and that directly deals with reinsurance. Workers comp is a strong second. In short, be assured that a lot of insurance business is being conducted.
Who’s Doing Insurance Business Here?
Below is a list of domestic insurance companies in the Cayman Islands. To potentially save time and money researching insurance plans, or the specific type of coverage you are looking for, you can contact a licensed insurance broker in the Cayman Islands to assist with getting your coverage package squared away. As per usual, if you’re considering setting up shop here versus getting coverage – it is recommended you speak to an attorney or professional in the field to get a scope of what needs to be done before entering the market.
Sponsored Ad