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LATEST NEWS

IMF-Building

IMF Official Gives Jamaica High Marks

October 25, 2014
Published: Friday | October 24, 2014. Barrington Flemming, Gleaner Writer WESTERN BUREAU: Dr Min Zhu, deputy director of the International Monetary Fund (IMF), has painted a rosy outlook for Jamaica's economic fortunes, indicating that the country's growth trajectory is set to continue on an upward path over the next three years…
Pension

New Pension Model Reduces Risk For Employer

October 25, 2014
Published: Friday | October 24, 2014. Avia Collinder, Business Reporter A new pension savings model, though not on Jamaica's radar, has piqued the interest of local pension fund managers, who say the rate of payouts under the system are guaranteed but not by the employer…
Cedric stephens

Micro insurance, Part 2: An outstanding example of innovation

October 22, 2014
12 October, 2014.  Jamaica Gleaner / Cedric Stephens Insurance Helpline QUESTION: One of my friends spoke with me about micro insurance a few weeks ago…
acci17

Road deaths inch towards 300 mark

October 22, 2014
Friday, October 17, 2014 WITH the National Road Safety Council (NRSC) missing its target of keeping fatalities below 240 this year, the Road Safety Unit (RSU) in the Ministry of Transport, Works and Housing said it is doing everything in its power to keep that figure below the 300 mark…

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CHRISTMAS IN NOVEMBER 2014 – IAJ ALL INCLUSIVE EXTRAVAGANZA (NOV 15)

INSURANCE WEEK 2014 ACTIVITIES

Overview

The business of the IAJ is managed by a Board of Directors comprising the CEOs of the Life and General Insurance Companies. The Board is made up of four representatives from the life sector and four from the General Insurance sector.

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Earl Moore

(2005-2007), President & CEO, Guardian Life.

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Andrew Levy

(2007-2009), Managing Director, Jamaica International Insurance Company.

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Jacqueline Sharp

(2009-2010), General Manager, Scotia Life Insurance Company.

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Paul Lalor

 (2010-2012)  President & CEO, Insurance Company of the West Indies

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Hugh Reid President, Scotia Insurance

President, Scotia Insurance

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Karen Bhoorasingh

(2014-Current) President, Guardian General Insurance Jamaica Limited

Committees

The President is supported by two Vice Presidents, one representing life and one representing general. The IAJ carries out its mandate with the help of various committees comprising representatives from member companies. The committees include:

Underwriting & Claims

The Underwriting Committee meets to discuss updates  and other relevant matters relating to  Underwriting Procedures for new business.

Life Claims

The Life Claims Committee meets to discuss matters related to claims settlement.  The committee makes efforts to standardize requirements for Claim Settlements throughout the industry.

Human Resources

The Human Resources Committee comprises Senior Personnel from the Human Resources Department of the various Insurance Companies who discuss and keep up to date with Human Resources practices.

General CEOs

CEOs of the General Insurance Companies have scheduled meetings which are focused on discussing matters related specifically to the General Insurance Sector.

Fraud

The Fraud Committee gathers information from relevant authorities that will help the Insurance Industry to reduce the incidence of fraud.

Day To Day Activities

The day-to-day affairs of the IAJ are managed by the IAJ Secretariat which is currently headed by Executive Director Orville Johnson.

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