This "Getting the Deal Through" article provides local insight in the field of insurance and reinsurance law in The Bahamas, outlining the following areas: regulatory framework, insurance claims and coverage, reinsurance disputes and reinsurance principles and practices. REGULATORY AGENCIES - Identify the regulatory agencies responsible for regulating insurance and reinsurance companies.
This article is reproduced with permission from Law Business Research, Ltd, and was first published in Getting the Deal Through: Insurance & Reinsurance, 2014. There are two principal statutes that form the basis of the regulatory framework for the insurance and reinsurance business in the Bahamas.
In addition to being a conduit for people seeking economic refuge in the United States, The Bahamas is a transit country for drug traffickers originating from South America and/or the Caribbean.
As a result of The Bahamas’ geographical outlay, the Defence Force must address the following threats to The Bahamas’ national security: Major Challenges The Defence Force has responsibility for patrolling some 100,000 square miles of territorial waters that consist of more than 1,000 islands, rocks and cays sprawled over a distance of some 600 miles.
There is nothing more important to us than the safety and security of our guests as we are 100% dedicated to providing an enjoyable and safe cruise experience for every guest.
As a result of the Cruise Vessel Security and Safety Act of 2010, statistics for cruise ship crime allegations will now be posted on the internet for public viewing. Coast Guard's website, represent crime allegations in different categories occurring on cruise ships sailing from North America, which must be reported in accordance to the Cruise Vessel Security and Safety Act of 2010.
The safety and security of our guests and crew is our highest priority.
Additionally, it is intended to work more closely with local law enforcement agencies and regional partners as a force multiplier for addressing current challenges.
Bahamas section written by Linda Beidler-D'Aguilar and Anastasia Campbell, both of Graham Thompson. The Insurance Act, 2005 (the Domestic Act) and its associated regulations (domestic regulations) deal with domestic insurers, local branches of foreign insurers and the domestic market.
The External Insurance Act, 2009 (the External Act) and its associated regulations (external regulations) regulate external (captive) insurers.
is an archipelagic state within the Lucayan Archipelago.
It consists of more than 700 islands, cays, and islets in the Atlantic Ocean and is located north of Cuba and Hispaniola (Haiti and the Dominican Republic); northwest of the Turks and Caicos Islands; southeast of the US state of Florida and east of the Florida Keys.