Captives Launch Cayman Relief Effort

Captives Launch Cayman Relief Effort

The captive industry has initiated a fundraising and rebuilding effort to help the Cayman Islands, which is still struggling to recover from the devastation of Hurricane Ivan in September 2004.

CRICO (the group captive for Harvard-affiliated medical institutions) and the Insurance Managers Association of the Cayman Islands announced they have established a fund to help Cayman, and they invite the entire captive industry to contribute.

At least $200,000 has been raised so farthe goal is $1 million in 2005, the organizations said.

The initial focus is the purchase of an ambulance and other equipment for the Cayman Islands Cancer Society and The Pines Nursing Home. These needs were identified by the Cayman Islands Health Services Authority.

Captive owners and industry support organizations interested in contributing may contact Jack McCarthy of CRICO/Risk Management Foundation at 617-679-1263, or David Whitefield and Tom Clark of HSBC Cayman at 345-914-7502.

Reproduced from National Underwriter Edition, April 15, 2005. Copyright 2005 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.