REVIEW OF INSURANCE PROVISION ON ST HELENA

St Helena Government (SHG) has commissioned the services of Marsh Ltd, a global leader in insurance broking and risk management, to undertake a review of the current insurance provision on St Helena. The review covers both SHG's current policy of self-insurance for the majority of its business as well as the insurance provision that is generally available to the general public and the private sector on St Helena.

The review, which was initiated by Elected Members, commenced in January. Whilst most of the work will be undertaken remotely, a member of the Marsh review team, Graham Aykroyd, was on-Island between 28 January and 2 February 2019. During his time here, Graham met with stakeholders both within the public and private sectors.

Chairman of the Economic Development Committee, Councillor Lawson Henry, said:

With the opening up of St Helena to commercial flights, the Economic Development Committee and private sector has been very much aware of the potential increased risk in terms of public liability and the importance for small businesses to be protected. With just one insurance operator on-Island, councillors wanted a review of what is available and to benchmark and compare our service provision with other insurance companies in other overseas territories.

Marsh Ltd will report back to SHG with recommendations and options by the end of March 2019.

Source: St Helena Government

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