DAIC & DHTA encourage private sector to utilize insurance to mitigate risk

The Dominica Association of Industry and Commerce (DAIC) and the Dominica Hotel and Tourism Association (DHTA) hosted the first session of a Three-part Business Continuity and Resilience Series on Tuesday, June 8th, 2021 via Zoom to provide insight on how the private sector and key stakeholders can strengthen their actions to improve their resilience.

Insurance industry experts Mr. Brenton Hilaire of Sagicor Life EC and Mr. Anthony Joseph of Beacon Insurance shared key considerations for the Private Sector to reduce their risk through insurance. The presenters emphasized that purchasing insurance is investing in the sustainability of one’s business. Fundamentally, businesses should ensure that a proper risk assessment is conducted to determine the insurance needs of the business.

from left: Anthony Joseph and Brenton Hilaire

The presenters encouraged businesses to understand the definitions provided by one’s insurer to fully understand the coverage provided. It was noted that an insurance broker or advisor could be used to navigate the business needs identified and the business goals as brokers and advisors exist to work hand in hand with businesses to ensure the most suitable and adequate plan. Businesses were encouraged to focus on their areas of risk and vulnerability as this is essential to determining the best insurance solution as one of the actions in the overall enhancement of resilience.

DAIC and DHTA reminds the business community of the second session to be held on Wednesday June 16th that will focus on Building Resilience and Optimizing Security for Private Sector’s Physical and Digital Infrastructure. Experts in physical and digital security will share best practices to be considered by our private sector, options for managing business security risk, trends and developments in business security, among other key considerations. A special presentation will be given by the Commonwealth of Dominica Police Force on important security considerations for the Private Sector.

The Private Sector and Stakeholders are invited to register to attend this session at https://bit.ly/2TRMJze. For more information, contact DAIC at 1(767)449-1962.

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