The Tribune

The Minister of Health has pledged that the Bahamas Insurance Association (BIA) will be among the Government's "key partners" on healthcare reform.

Dr Duane Sands called for meaningful input from the insurance industry during a recent courtesy call by the BIA, suggesting there were opportunities for its members to provide new products under the National Health Insurance (NHI) scheme.

“I look forward to a mutually respectful relationship with the BIA, and suggest regular meetings to maintain the dialogue,” said Dr Sands.

BIA executives, led by chairman Emmanuel O. Komolafe, emphasised the insurance industry's stability and contribution to the Bahamian economy. He added that gross written premiums were equivalent to about 9 per cent of the Bahamas' GDP.

Mr Komolafe highlighted the correlation between the Bahamas’ sovereign credit rating and those of individual Bahamian insurers. Dr Sands was also advised of the industry's concerns over exchange control restrictions, which limit its ability to invest outside the Bahamas, and the challenges life and health insurers in matching long-term liabilities to appropriate assets.

Mr Komolafe said: “Overall, the BIA is optimistic about working with the Ministry of Health and the NHI Authority, once formally constituted, and looks forward to collaborating on the refinement of the NHI model and advancement of both the health and insurance industries.”

CAPTION:

Pictured L to R are: Dr Pearl McMillan, acting chief medical officer; Cardinal McCardy, treasurer, BIA, Hope Insurance; Tina Cambridge, Generali; Stuart Kelly, FG Insurance Brokers & Agents; Dr Rhonda Chipman-Johnson, co-ordinator, BIA; Emmanuel Komolafe, chairman, BIA; Duane Sands, minister of health; Felicia Knowles, Lampkin, Knowles & Co; Peter Deveaux-Isaacs, permanent secretary, NHI Secretariat; Dr Delon Brennen, project manager, NHI and deputy chief medical officer; Maisie Evans, permanent secretary, Ministry of Health; Sherrilyn Wallace, permanent secretary, Ministry of Health