Yolanda G. Moss, an Account Executive at J.S. Johnson & Co., is the second local insurance sector practitioner to qualify for the Associates in Captive Insurance (ACI) designation. She already held the ACII (Advance Diploma in Insurance) qualification from the Chartered Insurance Institute (UK).
The International Center for Captive Insurance Education (ICCIE), based in Vermont, introduced the ACI programme in 2004 to meet an identified need in the captive training space; it is described as the first comprehensive captive insurance education programme in North America, with the ACI designation recognised and respected globally.
Yolanda says, “I am absolutely thrilled to have completed the ACI designation; the past year has gone by in a whirlwind but I found the ICCIE courses particularly interesting. Insurance at its core is the same: it is simply a mechanism to transfer risk. What the courses showed me is a new facet to the industry, which truly is a broad field. And, of course, I got a greater appreciation for just how widely regulations differ between jurisdictions. I’m so grateful to have been afforded this opportunity, and I am particularly thankful that J. S. Johnson was so accommodating. Through our broker affiliations I already have been able to put my knowledge to use, and I anticipate that The Bahamas will again be seen as a worthy captives domicile in years to come.”
The Bahamas Financial Services Board (BFSB) and the Insurance Commission of The Bahamas (ICB) introduced the ACI Designation programme in The Bahamas in 2013 – in fact, offering scholarships to interested insurance practitioners. ICCIE has applauded BFSB’s commitment to the highest standard in captive insurance professionalism, noting that this signifies the domicile’s commitment to excellence in the industry, while both BFSB and the ICB have acknowledged the value of the programme in creating an environment that is conducive to the growth of the captives sector. They point, particularly, to its importance in ensuring that The Bahamas continues to meet standards of international best practice. Collaboration on the ongoing scholarship initiative has been provided by the Ministry of Financial Services, the Bahamas Insurance Association and the Insurance Institute of The Bahamas.
Anastasia Campbell, Partner at Graham Thompson, was the first Bahamian to qualify for the ACI designation earlier this year, and currently two other scholarship recipients are completing the programme. It is anticipated that at least two other scholarships will be awarded in 2017.