Deputy CEO of Regional Insurer warns of tough times for Disaster Policyholders: Beacon’s 2nd In Command also sees Pet Insurance unlikely in near future

A strong possibility due to the Caribbean being prone to Hurricanes and a recent spate of earthquakes make it less likely for overseas agencies eager to reinsure the area, making current policies more likely to boost their premiums.

The conference was held at the Courtyard Marriott in Hastings

{L/R} Gerald Hadeed with Robert Mowser sharing a lighter moment after the relaunch of Beacon Insurance

This warning was given by Robert Mowser while addressing participants at a recent rebranding of Beacon Insurance at the Courtyard Marriott in Hastings, he cites an overseas group called AON as reluctant if not outright adamantly opposed to revising or amending coverage for this part of the world {CLICK ON FOLLOWING LINK FOR FULL AUDIO};-

He told the audience how Munich will no longer renew their aggregates because of the weather factor for the Caribbean, however current policyholders still have an advantage but only if they ensure their investment is kept active.

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Some of the Barbados branch of Beacon Insurance, beaming with pride at the rebranding event

The Barbados-based company used a Trinidadian lighthouse as the basis for creating a new stylised logo to highlight their products and services across the local and regional market. These policies, unlike their USA neighbours GEICO and Progressive, do not include pet insurance but Mowser was quick to point out this is due to the lack of apparent interest in such an initiative {CLICK ON FOLLOWING LINK FOR FULL AUDIO};-

He told Bajan Reporter in all his time with Beacon, if he had 3 requests for Pet Insurance then this is a lot – if Beacon was to add such a policy then numbers need to be far higher, citing how in both America & UK such policyholders number in the millions.

When asked how are Polo Ponies safeguarded since it is a dangerous sport and financial protection is required, Mr Mowser says the usual channels involve dealing with Lloyd’s of London directly.

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Deputy CEO Robert Mowser referring to 18th Century mathematician Blaise Pascal in his fascinating address

Apart from rebranding, the Deputy CEO also told the gathering how Beacon is pursuing a 15 year Vision for the organisation, now in its fifth year of implementation – the latest stage is making Beacon a paperless company {CLICK ON FOLLOWING LINK FOR FULL AUDIO};-

He says the drive is now complete in Trinidad and begun to be enforced in Grenada and Barbados, he says it allows for better communications between islands and allows for more focussing the needs of their clients.

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