Bahamas mandating

This "Getting the Deal Through" article provides local insight in the field of insurance and reinsurance law in The Bahamas, outlining the following areas: regulatory framework, insurance claims and coverage, reinsurance disputes and reinsurance principles and practices. REGULATORY AGENCIES - Identify the regulatory agencies responsible for regulating insurance and reinsurance companies.This article is reproduced with permission from Law Business Research, Ltd, and was first published in Getting the Deal Through: Insurance & Reinsurance, 2014. There are two principal statutes that form the basis of the regulatory framework for the insurance and reinsurance business in the Bahamas.The prime minister is the leader of the party that commands a majority in the house.Pindling’s Progressive Liberal Party (PLP), dogged by years of allegations of corruption and high official involvement in narcotics trafficking, was ousted after two and a half decades rule by Ingraham and the FNM in the 1992 elections.Also, building "Added Value" into products, will increase International Trade.Equally, experienced International Businessmen's Consultations, without Self-Interest, can help these Nations' Private Corporations prosper financially during the ensuing economic slowdown.The government of the Bahamas announced in October 2000 that it was creating a new intelligence unit to investigate suspicious financial activity in the island chain as part of an effort to remove the country from an international money-laundering "blacklist." The measure followed the release of a report in June by the Financial Action Task Force (FATF)-a coordinating body set up a decade ago by the Group of 7 (G-7) economic powers to coordinate international efforts against money laundering)-that cited the Bahamas for not doing enough to fight illegal flows of cash.

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Under the 1973 constitution, a bicameral parliament consisted of a 49-member house of assembly directly elected for five years and a 16-member senate with 9 members appointed by the prime minister, 4 by the leader of the parliament opposition, and 3 by the governor-general.

The number of seats in the assembly has been reduced by 9, to 40, in keeping with a campaign promise by the Free National Movement (FNM) party.

The definition of harassment is what Save The Bays has done to Peter Nygard.

The mission of the Inter American Commission on Human Rights (IACHR) is “to promote and protect human rights in the American hemisphere”.

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