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The longer and further that COVID-19 spreads, the more likely it is that there will be disputes as to whether or not COVID19 related losses can be aggregated by (re)insureds for the purpose...

The Cayman Islands Monetary Authority ("CIMA") recently issued an updated Regulatory Policy on Consolidated Supervision (the "Policy"). The Policy expands on an earlier version...

The Cayman Islands Monetary Authority has introduced new binding AML and Sanctions Rules for insurance sector licensees, elevating previously non-binding guidance to enforceable regulatory requirements. These Rules impose specific obligations around customer due diligence, risk assessments, independent audits, and sanctions screening, with varying applicability depending on whether insurers conduct 'relevant financial business' under the Proceeds of Crime Act.

Happy New Year and a very warm welcome to our sixth issue of Conyers Coverage.

In October 2024, the Cayman Islands Monetary Authority (CIMA) issued an updated Regulatory Policy on the Recognition and Approval of an Actuary (the "Policy")...

The Cayman Islands has continued to improve its position as a jurisdiction of choice for captive insurance companies. As at 31 October 2004, 671 insurance captives were licensed by the Cayman Islands Monetary Authority of which 50 were new licence grants in 2004. The numbers of new license grants are on the rise year on year.

Long known as a leading captive insurance domicile, the Cayman Islands has significantly grown its role as a hub for reinsurance.

CIMA released a Statement of Guidance on Professional Indemnity Insurance for Trust, Insurance, Mutual Fund Administrator, Securities Investment Business and Company Management Licensees and Directors.

In law, a captive insurer is an insurance company like any other. A statement of the obvious, perhaps, but nonetheless a technicality that many in the industry have been known to lose sight of from time to time.

A very warm welcome to our fifth issue of Conyers Coverage.

The Insurance Law of 1979 laid the foundation for the Cayman Islands to become one of the world's largest captive insurance centres. Licensees are regulated by the Cayman Islands Monetary Authority ("the Authority").

All persons carrying on, or desiring to carry on, insurance business (including reinsurance business) in or from the Cayman Islands need to be licensed under the Cayman Islands Insurance Law.

A wide range of new EU legislative measures on sustainable finance came into force on 22 August 2021.

Cayman Islands entities tend to use market-standard documentation for all types of derivatives transactions. The 1992 and 2002 ISDA Master Agreements...

The COVID-19 pandemic has triggered an increasing number of contested Business Interruption Insurance claims between Policyholders and Insurers worldwide.

Some of the many advantages of registering a company, exempted trust or limited partnership in Cayman are: tax neutrality, which means investors and their corporate activities are not subject to additional layers of taxation over and above those of their home country; a well established legal regime, reasonable reporting requirements, flexible corporate structures and an expedited registration process (using the General Registry’s (the "Registry") express service, new companies, trusts and partn

The Cayman International Reinsurance Companies Association (CIRCA) was founded earlier this year to promote the interests of commercial reinsurers in the Cayman Islands...