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LATEST NEWS

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Who's Paying For Insurance Scams? - Some Insurance Companies Increase Prices To Cover Loss To False Claims

March 2, 2015
Published:Sunday | March 1, 2015 While persons might have been injured in this recent accident the insurance companies are seeing more instances where scammers are claiming that they were injured in accidents…
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Graduates With Proficiency In Math Receive Better Pay

February 25, 2015
Eric Hosin, president of Guardian Life Limited, has said that graduates who pursue careers that require proficiency in mathematics such as actuaries, gain better-paying jobs in Jamaica and across the globe…
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Power group promotes ethics in business

February 25, 2015
BY STEVEN JACKSON Business reporter jacksons@jamaicaobserver…
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Big turnout for Sagicor Sigma Run

February 25, 2015
Monday, February 23, 2015 YESTERDAY'S 17th staging of the Sagicor Sigma Corporate Run recorded the largest number of registrants, just under 24,000 people, according to the organisers…

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

The IAJ Christmas in November All Inclusive Extravaganza took place on November 15 and it was another exciting, entertaining and memorable occasion.  The support was great and patrons thoroughly enjoyed themselves with the pulsating sounds from DJ Inferno facilitated by Supreme Sounds.  It was indeed a memorable night with patrons constantly exclaiming ‘This is a Great Party’.    There were also expressions such as ‘Every year this party gets better and better’.

DSC_4269 RENEWABLE ENERGY SEMINAR

The Renewable Energy Seminar held by MUNICH  RE in association with the College of Insurance and Professional Studies, CIPS and the Insurance Association of Jamaica, IAJ  on October 22, proved to be a timely,relevant and well attended Seminar.   From all indications,  participants benefited tremendously from the experience.   The Munich Re presenters were also impressed by the attention and interest displayed by participants.

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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