The Cayman Islands financial services sector was well represented at the American Society for Healthcare Risk Management (ASHRM) annual conference in Austin, Texas that started on Sunday (27), where over 100 exhibitors attended.

ASHRM 2013 is structured specifically for healthcare risk management, patient safety, legal, insurance and other healthcare-related professionals.

The Insurance Managers Association of Cayman (IMAC) will was located at booth #300, industry experts including captive insurance managers, auditors, attorneys, bankers, investment managers and representatives from the Cayman Islands Monetary Authority were in attendance.

IMAC hosted a panel presentation called ‘Captive Insurance and Healthcare – A Happy Marriage.’ Experts in healthcare focused on feasibility studies, best practices and domicile selection specific to the healthcare industry.

There was more than seventy educational sessions at the convention center to help prepare for managing risk in healthcare environment. Programmes in six specialised tracks – claims and litigation, enterprise risk management, legal and regulatory, patient safety, risk financing and leadership development– ensured a well-rounded, first-rate learning experience.

IMAC Chairman, Rob Leadbetter was one of a team of insurance managers representing the domicile at the conference. Before leaving he said:

“There seems to be a trend in captive formations and that is growth in the health care market. While Bermuda, the Cayman Islands, Barbados and Guernsey have historically been the most popular domiciles for captive formations, many of the captives formed today are in the United States. While the number of captive domiciles is growing and remains competitive, we want Cayman to be the go-to domicile for the industry.”

Mr. Leadbetter added that the aim of the session is to help identify why captives have value, especially from a US tax and regulatory perspective, explain the importance of strategic planning and proper feasibility studies and explain operational procedures and programme structures, including implementation and operations in the Cayman Islands.

ENDS

Insurance Managers Association of Cayman (IMAC) is a non-profit organisation run by the insurance managers of the Cayman Islands.  In operation since 1981, IMAC’s aim is to act as both regulatory liaison with the Cayman Islands Government and to promote the Cayman Islands as a domicile of choice for captive insurance companies.

IMAC hosts the world’s largest captive insurance conference, attracting nearly 1,300 captive managers, service providers and directors annually.

For more information on IMAC visit www.caymancaptive.ky.