The Tribune

The Bahamas Financial Services Board (BFSB) has teamed with the Insurance Commission of the Bahamas (ICB) and the Insurance Institute of the Bahamas (IIB) to host a half-day seminar on forming and operating a captive insurance company.

The leader of the seminar, scheduled for November 26 at the British Colonial Hilton Hotel, will be Marcy Waterfall, a senior vice-president in the Vermont office of Marsh’s Captive Solutions Group. The programme also includes a presentation from the ICB, which will speak on the regulatory environment for service providers.

Aliya Allen, the BFSB’s chief executive, said the event will be of relevance to anyone new to the captive insurance industry or those who just want to reinforce what they already know.

Captive Insurance Basics has been structured as an introductory level seminar that will cover the basics (Captives 101 approach), and will include: Typical structures; benefits of a captive programme; feasibility analysis; forming a captive; operating a captive; regulatory considerations; and accounting and tax considerations. Included in the programme will be case studies.

Ms Waterfall has been helping companies form and operate captives for nearly 20 years. She is a graduate of the University of California at Berkeley.

She is also a Certified Public Accountant (CPA) and holds the associate in Risk Management (ARM) designation from the Insurance Institute of America.

Marsh’s Captive Solutions Group has more than 450 employees dedicated to captive management for more than 1,220 captives worldwide.