Barbados activates the MICE segment with an important conference
The Caribbean island paradise will host the Barbados Risk & Insurance Management (BRIM) international conference next month
Bringing together local, regional and international opinion leaders on insurance, risk management and global business, the virtual conference is expected to attract more than 200 industry professionals for the event on March 24-25, 2021. BIBA, the Global Business Association, is the host of the conference.
Fresh from organizing the successful Global Business Week 2020 Conference, BIBA launched plans for BRIM 2021 during a recent media launch, and BIBA President Derrick Cummins emphasized that Barbados is one of the premier addresses for companies. captive insurance companies worldwide.
A captive insurer is an insurance company that is wholly owned and controlled by its policyholders, and its main purpose is to insure the risks of its owners. At the same time, its policyholders benefit from the captive insurer's underwriting profits.
Speaking at the BRIM 2021 media launch attended by officials from BIBA, the Financial Services Commission (FSC) and sponsors, Cummins said: “We have designed this conference as a must-attend event for risk, insurance, finance. , investment, and any professional aligned with the insurance sector, especially the captive industry ”.
Among the many topics to be discussed at the conference are:
Post-pandemic risk management
Emerging markets: new opportunities
New initiatives in captives: covering cyber risk and pandemic risk
Risk management and climate change
Management of investment portfolios for captives and regulation in a post-COVID world
Speakers scheduled at BRIM 2021 include :
Michael Serricchio, Americas Managing Director, Marsh Captive Solutions
Daryl Senick, Partner and National Insurance Leader, BDO Canada
Elizabeth Emanuel, Technical Assistance Manager, CCRIF SPC (formerly Caribbean Catastrophe Risk Insurance Facility)
Professor Avinash Persaud, President from the Barbados Financial Services Commission (FSC)
Ben Arrindell, Special Adviser to the Prime Minister of Barbados, Mia Mottley, on International Business Affairs, and Vice Chairman of Cidel Bank & Trust
Carmel Haynes, Executive Director of BIBA, described the conference's target audience as those involved directly and indirectly in the insurance industry. These include insurers, actuaries, financial services professionals, attorneys, accounting professionals, and others in a service relationship with the insurance industry.
According to Cummins, as businesses and individuals grapple with the consequences of the COVID-19 pandemic, the insurance industry around the world is experiencing high demand for coverage. However, on the other hand, he said that insurers faced high capital adequacy requirements, "
Despite this, Ricardo Knight, chairman of BIBA's marketing and communications committee and senior vice president of Marsh Captive Solutions, said captive insurance company registrations continued to expand in Barbados.
“We are one of the top 10 jurisdictions in the world. I don't think we can speak to many industries in the world where Barbados is in the Top 10 of an industry that is growing during one of the harshest pandemics the world has ever seen, ”Knight emphasized.
FSC statistics show that Barbados has 279 captive insurance companies, most of which are Canadian and US operations. In announcing their commitment to long-term sponsorship of the event, Jeanne Crawford, Senior Vice President of USA Risk Group, and Elliott Barrow, Vice President, Portfolio Manager and Investment Advisor of RBC Dominion Securities Global, said they were delighted to be sponsoring BRIM 2021 diamonds.
“We are excited to get involved and be a diamond sponsor. This is long overdue, and BIBA has our full support and commitment for 2021 and beyond, ”said Crawford.
Barrow, who described the captive insurance industry as an important part of the RBC Dominion Securities Global portfolio, commented: “It is an industry that we are very excited to be a part of, and we will be committed to being diamond sponsors. This is an important advance for our industry and for Barbados ”.
The organization of this conference is being made possible by Diamond Sponsors: RBC Dominion Securities Global and USA Risk Group; Platinum Sponsor: London & Capital; Gold Sponsor: Strategic Risk Solutions; Silver Sponsor: Clarity Life; and bronze sponsors: Invest Barbados, Sagicor Life Inc and Summit Asset Management.