REVIEW ISSUE 01 | June 2014
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Insurance The Insurance Council of St. Lucia REVIEW ISSUE 01 | June 2014 Hall of Fame INSURANCE Review CONTENTS ISSUE 01 | June 2014 24 24 2 Editor’s Introduction 4 President’s Remarks ICSL –Then and Now 5 36 Not Business as usual Introducing the Executive committee 7 38 CGM Gallagher Financial services Regulatory 12 39 First Aid Training Authority contribution 40 Roderick Clarke Scholastic Award Sub Committees 14 41 Quality Assurance The Insurance Institute of 17 42 Hall of Fame St.Lucia (ICSL) 47 ICSL Past Presidents Insurance 18 48 Recipes Sagicor Life 20 49 Directors & Officers Insurance Demystified A Short History of GTM 22 50 Future Regulation Sun General Insurance 24 51 ICSL Organizational Chart M&C General Insurance 26 52 ICSL 38th Annual AGM A Short history on WIG 27 53 Scholarships EC Global Insurance Company Ltd 28 56 List of approved Garages 2014 Eastern Caribbean Insurance Ltd 29 62 Moves in the Industry Brokers 30 64 ICSL –As we begin the Hurricane Season Sterling Insurances Services 31 65 Acknowledgments Caribbean Alliance 32 66 Jokes Beacon Insurance 33 67 Puzzle 34 Code of Practice HALL OF FAME THE INSURANCE COUNCIL OF ST. LUCIA |1 INSURANCE Review Editor’s Introduction t gives me great pleasure to welcome you pursue. In this dwindling economy one of the Ito our inaugural issue of our magazine few players which has remained steadfast in “Insurance Review”. You would have already its provision of quality service are Insurance reviewed our cover page and are prob- Companies and Brokers. We will endeavor ably anxiously turning the pages with to show you how committed we are to you in great anticipation speculating what is the following issues as we journey through the on the inside…. You may be wonder- realms of the insurance industry! ing whether this will be another boring For now, we say “Hi” “Hello” “a pleasure magazine which offers very little to its meeting you” and look forward to the same readers or may be deep down you are high standards we have created for ourselves in thinking why don’t these insurance our next issue. people stick to what they know best To all the contributors who supported and leave the creative stuff to the our magazine we say “Thank You” for your faith publishers? Well allow me to take you in our ability to accomplish this initiative and through our thought process. your encouragement which saw us to This first issue was a labour of completion. endurance and determination by the General Subcommittee team and Marie the Executive Secretary of the Insurance Council of St Lucia. As we sat to deliberate on our plans for the new term 2013/2014 we felt that it was time to bring greater awareness to the work of the Insurance Council of St Lucia (ICSL) and its members. As we encountered members of the public and explained the depth of the service we offer as a Council, Insurers and Brokers, the common response is “so why don’t you advertise and make people aware of this?” We listened and here we are today celebrating our first issue of “Insurance Review”. In Compiling this first issue the General Sub-Committee (GSC) agreed that Joralia St Louis it was time to invite you into our home as we Chairperson- seek to demystify and bring out the euphoria General Sub Committee in the insurance industry. In this issue we will walk you through our living quarters and en- sure you know who we are and where we came from. We will get more intimate as publications 2| THE INSURANCE COUNCIL OF ST. LUCIA HALL OF FAME INSURANCE Review HALL OF FAME THE INSURANCE COUNCIL OF ST. LUCIA |3 INSURANCE Review President’s Remark laudius J. Francis is an Insurance Loss President of the National Council of Sporting CAdjuster, Consultant and Arbitrator by Associations, President of the Saint Lucia Table profession and the Managing Director of the Tennis Association, President of the Winward firm Francis, Rosemin & Co. Ltd. He is the Islands Table Tennis association, President of current President of the Insurance Council of the French West Indies Table Tennis Associa- Saint Lucia and is now serving his twelfth term tion, President of the Castries Football Council in office. He is also the Immediate Past and President of the Saint Lucia Softball Crick- President of the Association of Insurance et Association, among others. He is also an Councils of the OECS. Additionally, Mr. internationally qualified Table Tennis umpire Francis is a founding member and five-term and was a member of the Saint Lucia Olympics President of the Insurance Institute of Saint Committee for eight years. Lucia Inc. He is the holder of a certificate in Mr. Francis is a past Chairman of the Hospitality Management; a Diploma Disciplinary Committee of the Saint Lucia (Distinction) in Principles and Practice of Calypsonians’ Association and a former Insurance; a Certificate in Fire & Accident member of the Saint Lucia Football Insurance and a Certificate in the Evaluation of Association’s Disciplinary Committee. Electrical Systems for Fire Hazards. He served for eight years as a member Mr. Francis is also a founding member of the of Saint Lucia’s Electoral Commission; and Association of Insurance Institutes of the currently is a member of the Electoral Caribbean and served as the body’s secretary/ Commission of Latin & Central America treasurer, the first Saint Lucian to hold the and the Caribbean. He was part of the position. As a consultant and Arbitrator, international observer team which oversaw the Mr. Francis is sought locally and regionally and 2008 Puerto Rico and United States of in 1993 he wrote an opinion on the question America General elections when Barack of how evidence given by expert witnesses is Obama was elected; being only one of two to be received by a Tribunal or Court of law, Caribbean nationals out of a team of forty as well the applicability of English Law in international observers. He has observed CLAUDIUS J. FRANCIS Saint Lucia’s jurisdiction. That opinion was elections in Panama, El Salvador, Nicaragua, unanimously affirmed by the O.E.C.S. Court the Dominican Republic, Guatemala and President of the of Appeal comprising then Chief Justice Sir Honduras. Insurance Council of St. Lucia Denys Bryon, and Justices of Appeal Satrohan He was a member of Saint Lucia’s Civil Singh and Monica Joseph. The decision has Code Reform Committee as well as a former since been applied several times throughout Chairman of Sports Saint Lucia Inc and a the member states of the Organization of former director of Cricket World Cup Saint Eastern Caribbean states, most notoriously, to Lucia Inc. He once served as Press Secretary free a convicted murderer. to Prime Minister Dr. Kenny Anthony and Mr. Francis is the host of the Helen currently lectures in Insurance Law & Ethics Television Service/Helen FM 100 Talk show, at Sir Arthur Lewis Community College’s Straight Up!, as well as a commentator and continuing education classes. writer on social and political matters. He was appointed a senator on the advice He has represented Saint Lucia in table of the Prime Minister on 29th December 2011 tennis, volleyball and martial arts. He is also and elected President of the Saint Lucia Senate a sporting administrator having served as on 5th January 2012. 4| THE INSURANCE COUNCIL OF ST. LUCIA HALL OF FAME INSURANCE Review The Insurance Council of St. Lucia Then and Now The insurance industry players came together bers 1989 and set out its objectives as follows: success. Among its achievements the Council in 1975 primarily to lobby government over the r 5PCSJOHUPHFUIFSUIPTFUSBOTBDUJOHJOTVSBODF boasts of the following:- provision of the proposed amendment to the 1968 business in Saint Lucia in order to afford opportuni- B SFHVMBUJPOPGUIFWBSJPVTHBSBHFTXIPDPOEVDU Insurance Act, in particular the proposed amend- ties for consultation and co-operation in all matters vehicle inspections islandwide; ment of section 61. This related to financial deposits affecting their common interest. C JOTUBMMBUJPOPGBNPUPSWFIJDMFEBUBCBTFXJUI of Insurers, Agents and Brokers, especially as the de- r 5PTFDVSFUIFBEWBODFNFOUPGUIFCVTJOFTTPG the ability to provide information on motor vehicles insurance in the island on a sound basis and to insured through the various insurance companies; encourage the highest standards of professional D "$PNQMBJOUT$PNNJĨFFXIJDIJTTFUVQUP etiquette and ethics in the industry. assist both the Council’s members as well as r 5PDSFBUFBCFĨFSVOEFSTUBOEJOHPGJOTVSBODF members of the public to lodge complaints with a among all sectors of the community. view to reaching amicable solutions to grievances r 5PBDUBTBNFEJVNPGDPOTVMUBUJPOXJUI(PW- related to insurance whether it be one insurer ernment, other similar associations, including against another or a member of the public against the Insurance Association of the Caribbean, on an insurer; legislation and other matters. E "TDIPMBSTIJQQSPHSBNNFGPSUIFDIJMESFO Whereas the Council still maintains its original wards of employees within the industry; function as a body to act “as a medium for F ĉF$PVODJMJTDVSSFOUMZXPSLJOHPO consulting with government”, it now also lists developing a website which it is anticipated will be amongst its objectives as being a body to foster launched within the next few weeks. the development of insurance on the island. The Insurance Council has clearly come a long way The Council maintains regular and close contact in dealing collectively with industry issues. with the Registrar of Insurance on matters per- taining to the industry and a system of regular quarterly meetings, between the Executive of the Insurance Council and the Registrar’s office has been in place for many years. Market consensus is reached on many issues concerning the conduct of insurance business through the many sub-committees representing the various sectors of the market being local, .PUPS -JGFBOE(FOFSBM posit was to be made a requirement of registration, The Insurance Council of St.