Wednesday, January 15, 2020

Insurance group turns to intelligent technology

Artificial intelligence technology, described as mimicking the human immune system, is planned as the next line of cyber defense for Cayman Islands health insurance provider BritCay.

Global corporate tax reform set to receive unexpected push – from the US

There is growing consensus to support a U.S. proposal for the reform of global corporate tax rules, which would limit the ability of multinational companies to shift profits to low-tax jurisdictions, according to the Organisation for Economic Co-operation and Development.

HCCI reveals $25 million 2016 capital budget

If anyone thought 2015 at Health City Cayman Islands was a busy year, 2016 promises to be frenetic: New capital projects alone are budgeted for $25 million.

Money problems: the global currency system needs reform

For a country like Cayman whose currency is tied to the U.S. dollar and therefore to the whims of the U.S. Federal Reserve’s monetary policy actions, the Cayman Investment Summit had a decidedly gloomy message: the U.S. dollar-led global currency system is in urgent need of reform and central banks have essentially no power to affect monetary or economic goals.

Immigration Law paves way for bright future

Daniel Altneu The new Immigration (Transition) Law, 2018 and Customs and Border Control Law 2018 came into force on Feb. 1 by Order of Cabinet....
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Small island marketers go global with digital media

In a once-unlikely David and Goliath-type scenario, geographically isolated nations like the Cayman Islands sit poised to take on global marketing giants and shake up the world of digital media. Speaking from the Kimpton Seafire Resort in Grand Cayman, Google AdWords digital marketing ambassador Joshua Weum described an evening of the playing field for small contenders, ushered in by unprecedented access to digital platforms.

Cayman’s new foundation company

If you want the best structure to manage property or conduct a business, for the benefit of a family, or to fund a philanthropic project, or to carry out a plan of any kind whose goal is not simply to make money for members, please take a look at Cayman’s new foundation company – introduced by the Foundation Companies Law that came into force on Oct. 18, 2017.

Brexit, Silk Road and de-risking – the future of offshore centers

It is difficult to see a bright future for offshore financial centers amid media attacks, international tax information exchange, initiatives to curb cross-border profit shifting by multinational companies, anti-tax avoidance measures, transparency efforts that erode financial privacy and more extensive compliance rules.

Quality financials prompted Cayman National takeover

March 13 was a red-letter day for Cayman National Corporation Ltd. That was the day the Trinidad-headquartered Republic Group finalised its acquisition of Cayman National, making the territory’s only local bank local no longer.

FATCA has arrived

With the sudden acceleration of inter-governmental agreements and now some 70 countries signed up to help the IRS, FATCA has very much arrived and is here to stay.

Financial services: regulation, costs and maybe fintech

In a briefing to financial services chiefs in New York last month, Cayman Finance CEO Jude Scott offered a modest headline: The jurisdiction is looking at streamlining compliance issues using fintech, a software-based financial-tracking system.

Hedge Funds Care provides real benefits in Cayman

Now established for 10 years, Hedge Funds Care Cayman is making a big difference in Cayman's efforts to prevent and treat child abuse.

Club advocates for local women in business

For more than 40 years, the Business and Professional Women’s Club of Grand Cayman has been working to create a better environment for local women and future members of the workforce.

Regulating Cayman’s insurance industry

Over the years, the financial industry of the Cayman Islands has remained highly competitive in several areas. One in particular is the insurance industry.

Better metrics than GDP would have enabled a stronger response to crisis

Better measurement of the economy and of people’s well-being could have led governments to respond more strongly to mitigate the damage caused by the 2008 financial crisis and reduce people’s continuing loss of trust in public institutions, according to a new report released by the OECD.

Regulatory: OfReg battles 18 months of challenges

When the Utility Competition and Regulation Office, known as OfReg, was formed in early 2017, it was touted as a “one-stop shop” regulator for telecommunications, electricity, petroleum and water.

Sea level, temperature rise threaten Cayman in just 80 years

The most-startling prediction is that a quarter-meter rise in sea levels, less than 10 inches, will swamp 33 buildings in Grand Cayman, among them 17 private homes and two apartment blocks. Apart from the shock value, the striking thing about the forecasts are that they are nine years old, published in 2009.

Board Apprentice launches in Cayman

A U.K.-based nonprofit striving to widen the pool of board-ready candidates to increase diversity on boards globally launches in Cayman.

Investment: Average clauses in insurance

Recently, a local insurance company has been advertising on the radio in Cayman warning of the implications of average clauses. Contrary to the rather ordinary nature that the name suggests, an average clause is one of the most important clauses that you can find in an insurance policy.

Tourism looks for big 2016 spend, but sees security concerns

The general mood related to tourism is upbeat and the statistics support it: arrivals are rising, construction is proceeding, employment is set to expand, and while economic recovery feels wobbly, optimism is guarded and hope springs.
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