(PRESS RELEASE) — The Second Annual Insurance Symposium hosted jointly by the St. Lucia Chamber of Commerce, Industry and Agriculture and the Insurance Council of St. Lucia on Tuesday 30th April 2019 at the Financial Administrative Centre was a success with vital information and insights into the subject being shared with attendees.
Critical components of the insurance sector such as health insurance, general, business continuity and pensions were discussed and explained by Experts in the various fields from partner companies. Sagicor, GK Insurance (Eastern Caribbean) Ltd Agents in St. Lucia EC Global Insurance Agency, NAGICO St. Lucia and The Beacon Insurance Co. Ltd, all made available extremely knowledgeable Senior Agents to give specific insight into the various insurance products and how they work to participants.
Mr. Calixte Leon, Executive Director of the Financial Services Regulatory Authority, St. Lucia’s Insurance Industry Regulator, delivered the Opening Speech, which was immediately followed by Ms. Patricia Brathwaite-Marshall of Sagicor Life who spoke on the most topical subject of Health insurance.
Mr. Clarence Faulkner of Pension Management Interactive, Inc elaborated on the critical issue of Individuals thinking seriously about their “Replacement Rate” in the context of retiring and planning for the future and unforeseen eventualities.
He utilized the proposed program which the St. Lucia Chamber of Commerce is planning to unfurl in the near future i.e. A Multi-Employer Pension Plan which will provide an opportunity for Chamber Members and their staff to take ownership of their respective pension obligations to support savings and NIC benefits in an affordable and practical manner.
Mr. Claudius Francis concluded the Symposium Presentations when he addressed the Luncheon Session as he spoke to the state of the local insurance industry, the current issues and challenges being faced and the role the Insurance Council is playing to support efficiency, honesty and standards in the Insurance Industry in St. Lucia.