This session will describe and lay out the new licensing rules and ILAC process for new insurers and reinsurers. Will also cover the process for ILAC and provide the required documentation for new insurance applications for insurers and reinsurers and for existing insurers and reinsuers wishing to make changes or additions to their licensing requirements. There will be discussion on
The role of ILAC and the key items required for submission
What is required for each class of (re)insurer, as per BMA rules, regulations and enhanced commercial requirements
The BMA's capital adequacy review process
Specific details for applications will be covered
In addition details of the capital model requirements for insurers and reinsurers will be also covered.
Who should attend but not limited to:
All insurance managers, all law firms, all classes of class 3 and class 4 insurers and reinsurers and this categorization will cover all commercial and life companies. Insurance professionals involved with establishing new insurance entities, those looking to expand an insurance company's business plan to move from writing limited purpose insurance business to writing commercial business and local service providers that participate in preparing certain pieces of the ILAC submission may also be interested.
Treasa Walker - Senior Officer, Licensing & Authorisations;
Mekisha Simmons - Principal, Licensing & Authorisations;
Richard May - Assistant Director, Acturial Services;
Donald Trenor - Assistant Director, Acturial Services,
VENUE: AXA XL (O'Hara House), #1 Bermudiana Road, Hamilton - Somers/Bermudez Rooms
DATE/TIME: October 25, 2018, 12:00 Noon until 2:00 pm (Light lunch 12:00 - 12:30)
FEE: Members $100; Non-members $125 (cost of lunch included)