COVID-19 Vaccine Coming to Cayman in January

About the COVID-19 Vaccine

The Pfizer/BioNTech COVID-19 vaccine is coming to the Cayman Islands in January, after receiving emergency approval from health regulatory agencies around the world.

Shipping the vaccine to the Cayman Islands requires that an ultra-cold chain of storage is maintained from the departure to the vaccine’s arrival in the Cayman Islands. The UK and CI Governments and the local healthcare communities are already working to manage these requirements.

There is also expected to be a limited initial supply of the vaccine until more types of vaccine become available.

Cayman Islands National Vaccination Plan

Stage 1

  • Group A
    • Residents and staff of institutional facilities
    • Individuals aged 70+
    • Healthcare workers and first responders
    • All frontline staff dealing with incoming travellers
  • Group B
    • Adults 60+ or with a relevant health status
  • Group C
    • Workers essential to Government continuity

Stage 2

  • Anyone aged 16-60 with relevant medical status
  • Those living at home with persons from stage one of the programme
  • Essential workers, teachers, school staff

Stage 3

  • Everyone 16+ who has not already received the vaccination.
    • This will begin with persons aged 50+

Screening will continue, impact on travel

Regular PCR screening for the virus that causes COVID-19 continues with safety restrictions for healthcare workers, healthcare establishments, nursing homes and prisons.

Those involved in hospitality will be screened periodically for COVID-19 disease.

Travellers who complete a course of the vaccine and test negative on arrival will be exempt from quarantine. This is provided other residents of their household have been vaccinated. These persons must also undergo repeated testing on days 0, 5, 10, 15 after arrival.

Vaccination cards required

Persons will need to bring their vaccination cards along to the vaccination site to be stamped. If you do not have your record, you will be given a paper record of your first vaccination that must be brought to your second injection after three weeks.

UK support

The first batch of vaccines set to arrive in the Cayman Islands will come from the UK through the Foreign Commonwealth and Development Office at no cost to the Cayman Islands.

Note on age and risk

Current evidence strongly indicates that the single greatest risk of death from COVID-19 is increasing age. Risk also increases exponentially with age. As such the optimal strategy for minimising future deaths is to offer vaccination to older age groups first.

CIIA honors the life of Ms. LaVerne Daykin

The Cayman Islands Insurance Association pays tribute to the life of one of the founding members of our Health Insurance Standing Committee (HISC), Ms. LaVerne Daykin, who passed away on Monday, 7 December 2020. 

Laverne was an original titan of the health insurance industry and avid participant in the health insurance predecessor to the HISC, CAHIP.  Many who have come after her have been privileged to stand on the shoulders of her hard-won accomplishments as Head of Health at the Cayman Insurance Centre.  She was a mentor and advocate for several outstanding health insurance professionals today, and was known to fight for her staff, colleagues, and clients with vigor.  

Even upon leaving the insurance industry, retirement couldn’t keep her from giving of her gifts, and she continued to work on Boards and in the community.  Her pride in her Caymanian heritage and love of Caymanian turtle stew is fondly remembered, and she has left many old Cayman proverbs like “time longer than rope” and “greed choke puppy” to guide us. 

LaVerne had a dangerous sense of humor and a smile that lit up her whole face and made her eyes disappear.  She took the bull by the horns to the very last.  We are all better for having known her and having the path she blazed to follow. 

Our condolences and prayers are with her dear sisters, her children and grandchildren, and all of her family and loved ones.

CIIA honors the life and contribution of Sue Hydes

The Cayman Islands Insurance Association honors the life and contribution of Mrs. Jacqueline “Sue” Hydes, who passed away on Tuesday, 27 October 2020.  She will be remembered for over a decade of contribution to the Health Insurance Standing Committee of the CIIA as the head of health and representative of Fidelity Insurance (Cayman) Ltd. to the HISC.   As a colleague, Sue always represented her organization with class, professionalism and an amiable countenance, and we reflect on her bright eyed smile that brought more light into the room.  She will be missed as a quiet warrior, unwavering in her convictions, and courageous in her battles for the wellbeing of her clients.  Sue has touched many of our lives, and also those of our children through her dedication to early childhood education.  We extend our deepest condolences to her husband, children and the Hydes and Gibson families, and also to her work family at Fidelity.  May she rest in peace.

CIIA honors the life and contribution of Jason Borrino

The Cayman Islands Insurance Association honors the life and contribution of Mr. Jason Borrino, who passed away on Thursday, 8 October 2020.  Jason will be remembered for his contribution to the Health Insurance Standing Committee of the CIIA as the head and representative of BAF.  Jason’s contribution to the work of the HISC in consulting with the Cayman Islands Government on the changes of the Health Insurance Law between 2010 and 2013, as well as his active participation in the response of the Health Insurance sector to the challenges brought upon us by COVID-19, will always be remembered with gratitude.  His well-considered input and lively representation will be missed along with his discretion and sense of humor.  He is remembered as pleasant, easy-going, sharp witted and knowledgeable with a gentle voice and a lovely lilting accent.  Our condolences and prayers are with the Borrino family who have lost an irreplaceable member, father and husband, and also to the BAF family in the Cayman Islands and the Bahamas who have lost a leader and friend.

Health Insurance Standing Committee Statement – Premium Payment Assistance Program

As of last week Thursday, 9 July 2020, Approved Health Insurers received a list of candidates approved by the Ministry of Health for participation in the Premium Payment Assistance Program for the months of April 2020 and May 2020.  On the same day, all Approved Health Insurers were given instructions on where to submit our invoices.  As of Tuesday, 14 July 2020, all Approved Health Insurers have submitted our invoices to the Ministry of Health. 

We remain committed to working with the Ministry of Health to support our clients through this difficult time. Upon receiving notice of the approved candidates for participation in Premium Payment Assistance Program for the month of June 2020, the Approved Health Insurers will issue the invoices.

A Joint Public Statement on Telemedicine from All Approved Health Insurers

In support of the “STAY HOME CAYMAN” directive, the Approved Health Insurers are working with your qualified health professionals to facilitate Telemedicine consultations where necessary.  Telemedicine consultations are subject to the Standard Health Insurance Fee (SHIF) reimbursement, based on the duration of the calls.

Please check with your individual health insurer for clarification if needed. 

Health Insurance Standing Committee – COVID-19 PANDEMIC ADVISORY

The Health Insurance Standing Committee of the Cayman Islands Insurance Associations assures the people of the Cayman Islands that we are working tirelessly to make sure that our clients continue to be covered during this COVID-19 Pandemic.

Should you have a confirmed diagnosis of COVID-19, your health insurer will cover your care in accordance with the terms and conditions of your policy.  Every Approved Health Insurer has chosen to waive exclusions in your policies that would have prevented us from covering care required due to a pandemic.  Testing for COVID-19 is being provided free by the Government Public Health Department.

While our offices are closed, we are still open for business and serving clients remotely.  Click here for instructions on how to contact your insurer or broker if you have any questions or concerns during this time. 

Property and Coronavirus (COVID-19): Is My Business Covered?

The outbreak of COVID-19 acute respiratory disease may cause a significant economic impact for businesses and individuals. Business closures, lost sales and cancelled or lost rentals will naturally give rise to questions as respects business interruption and loss of rent coverage under property policies.

Business Interruption Insurance

Most standard Business Interruption and Loss of Rent policies provide cover if your property has suffered a loss by an insured peril. Therefore, it is intended to respond if the building or property that you use/occupy/rent is damaged, destroyed or suffers a material damage loss that is covered by your property insurance. Below are a list of the standard insured perils.

  • Fire,
  • Lightning,
  • Explosion,
  • Earthquake and/or volcanic eruption,
  • Hurricane, cyclone, tornado or windstorm,
  • Flood,
  • Aircraft and other aerial devices,
  • Escape of water from any tank apparatus or pipe,
  • Impact by road vehicle or animal,
  • Riot, Civil commotion, strikers

Subject to each insurers policy wording.

Physical Damage

The trigger for any property insurance policy and resulting Business Interruption / Loss of Rent coverage is physical damage to insured property by an insured peril. Therefore, any business interruption loss resulting from infectious disease is not intended to be covered and is specifically excluded under most policies.

For More Information

It is critical to review each policy of insurance in its entirety to determine the extent, if any, of coverage available for the effects of the coronavirus. If you have specific coverage questions, please contact your policy representative.

Property Rate Increases in The Cayman Islands 2020

The Cayman Islands Insurance Association (CIIA) would like to notify residents of the Cayman Islands that they should anticipate increases in their property insurance premium rates in 2020.

The Atlantic region has been affected by high hurricane activity in recent years. In 2017 there were 17 storms, the major ones being hurricanes Harvey, Irma and Maria with insured losses of over US$90 billion. Then 2019 saw the fourth-most active hurricane season on record with hurricane Dorian alone generating insured losses in excess of US$8billion across all territories affected by the storm. As a result of this, international reinsurers have increased their coverage costs for the region.

The basic principle of insurance and reinsurance is the pooling of all premiums received to pay for the claims of those that have suffered losses. Although we in the Cayman Islands have been fortunate to avoid any major hurricane losses since Hurricane Ivan in 2004, we fall into the same reinsurance pool bracket in the Caribbean and face similar risks and consequently, it is necessary to increase premium rates this year. These increases are likely to be between 10% to 30% dependent on various factors such as type of construction, protections, property location and elevation.

The CIIA appreciates your understanding and if you have any questions please reach out to your local insurance representatives.

Pirates kidnap 13 people in Gulf of Guinea

Source: Business Insurance

November 05, 2019 Pirates have kidnapped 13 crewmembers on two European-flagged ships in the Gulf of Guinea, Euronews reported. Four crew members on a Greek oil tanker were kidnapped on Oct. 4 after pirates boarded the boat off the coast of Togo, while eight people were kidnapped from a Norwegian cargo boat on Nov. 2 during a similar incident off the coast of Benin.