Cayman Captive Forum 2020 canceled due to COVID-19
Due to COVID-19 related travel restrictions and uncertainties, as well as issues surrounding, personal safety and social distancing, which have caused the planning process to be extremely difficult, the Cayman Captive Forum will not be taking place this year.
The Forum, which has been said to contribute in excess of US$2m to the local economy both directly and indirectly was to be held from December 1-3 and is considered the largest captive specific event globally. The event typically attracts around 1,500 captive owners, directors, officers, reinsurers, ceding carriers, brokers, consultants, and service providers.
With around 85 per cent of the attending delegates arriving from overseas, the success of the conference is dependent on a global environment that is free from travel and social distancing restrictions.
The Insurance Managers Association Cayman (IMAC) Chair, Colin Robinson indicated in an article in Yahoo Finance, "Whilst our industry remains as strong as ever as evidenced by Q1 statistics, we, unfortunately, are unable to hold the conference without a clearer vision of what the world will look like in December for international travel. We would also like to express our sincere thanks to the Management team of The Ritz-Carlton for their understanding and continued support."
Forum Chair, Jackie Campbell remarked, "As disappointing as this is, unfortunately, there were too many unknowns to allow us to effectively plan and host a conference of the quality that we do on an annual basis. However, as one of the prominent offshore jurisdictions, we are looking into alternative means of being able to showcase our outstanding industry and the providers within."
The conference is expected to go ahead as normal in 2021.