Insurance coverage firm battles to regain belief of suppliers

Cayman First Insurance, Cayman News Service

CFI MD Roger Balkissoon

(CNS): Around 10% of healthcare providers are refusing to accept Cayman First Insurance cover at the point of need. Health facilities have been asking patients to pay upfront and claim back the money themselves because of significant delays in payments by the beleaguered local company, which has said it is working to persuade all providers to once again accept its clients’ cards, given the rollout of its new health portal. The Health Insurance Commission (HIC) has confirmed that Cayman First has met the conditions it imposed and is aware that this situation is “intolerable”.

Following a number of challenges at the insurance company relating to a shortage of staff, the departure of some senior and experienced employees, as well as difficulties with a new claims system, healthcare providers have experienced long delays in payment. While the HIC initially received just one official complaint, the regulator recently revealed that it has been…