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TTII E-NEWS

In This Issue

Here’s to Seema | Tribute to Bruce Kelly

Meet your TTII Council (Part 2 from Vol.6/Issue 2) | Workshops

AIIC Conference 2015 | What are students are saying … and more!

Here’s to the top student in B.Sc. Insurance and Risk Management!

Seema Rampartap is a dedicated wife, employee and student

at The UWI. Undaunted by a daily commute from Rio Claro for her full-time job at Massy United Insurance, nor by the death of a friend and study partner, this final year student enrolled in the B.Sc. Insur-ance and Risk Management at The UWI still managed to grab a GPA of 3.55!

Seema has CII Level 3 Certification in Insurance, plus several cer-tificates from TTII short courses, workshops and seminars. She attributes her success to a supportive husband, Adesh, and her family, especially her brother, Hemaunt.

TTII turned the spotlight on her at its Appreciation Luncheon at Jaf-fa, in recognition of her commitment to excellence, dedication and determination.

Look out for Seema in the years to come as she makes her mark in the insurance industry.

Trinidad and Tobago Insurance Institute Newsletter Issue 1 / First Quarter 2015

Seema’s bright smile simply adds to the package.

Meet Your Council (Part 2 from Vol.6/Issue 2)

Edweena Newallo-Dottin, President

Her experience in the insurance industry is vast. In her 30 plus years in the industry, she has worked both

in technical and administration, including operations, human resources, property management and market-

ing. Mrs. Newallo-Dottin, a member of the management team of Maritime General Insurance Co Limited,

has served on the Council of Trustees since 1995 and took over its presidency in 2014. She currently sits

on the Boards of the Association of Insurance Institutes of the Caribbean and the Joint Secretariat Corpora-

tion.

Mrs. Newallo-Dottin has served on several governmental and non-profit boards and was a member of the

Chartered Insurance Institute. She has had extensive training locally and overseas, the most recent being at

the Academy for International Business Officials (AIBO) in Beijing, China.

Rhona Romany, Trustee

She has spent three decades in the insurance industry here in Trinidad and Tobago and abroad. After serv-

ing as the Customer Service and Claims manager at a local insurance company, she has been at Sagicor

Life Inc. 25 years where she is is now the Training Officer. She holds the FLMI & ACS designations and has

been a lecturer for the State Licensing Long Term Examination Preparation course at the TTII. Mrs. Roma-

ny has, on two occasions, coordinated the workshop sessions for TTAIFA’s Sales Congress and was the

Chairperson for the AIIC conference when it was last held in Trinidad and Tobago.

During the 1990’s Mrs. Romany served on the Council of Trustees for several years and was later invited to

return to service on the Council where she continues to make a valuable contribution.

Catherine Lue Sue, Trustee

She made her debut into the insurance industry in the Life sector, earning her LOMA certificate. She moved

to General Insurance in 1986 and has had the benefit of working both sides of the fence as she held an

Account Executive position with one of the leading Brokers for 5 years. Mrs. Lue Sue’s local and overseas

training has allowed her to move into management, heading up Underwriting & Reinsurance at COLFIRE.

Her oversight as Reinsurance Manager affords her the opportunity to travel and negotiate reinsurance terms

for her Company and ensure a Global exposure to best practices and the latest developments affecting the

industry.

As a holder of the TTII Diploma in Insurance, Catherine’s passion for improving the standards and education

within the Industry has been extended to being a member of the TTII’s Council of Trustees since 1998. She

is a member of CII and carries a Cert. CII designation. In 2013 her contribution to the industry was recog-

nized with a Long Service Award for her contribution to various ATTIC Committees. An avid lover of Art and

Culture she lends her creativity to Junior Carnival and has been part of team that has had success in many

competitions. Catherine has also served as the Chairman of the Credit Committee for CLICO Credit Union.

Online courses for B.Sc. Insurance and Risk Management in the offing

In 2010 TTII and the Department of Management Studies at The University of the West Indies (UWI), St. Augustine Campus signed a MOU to develop and offer a B.Sc. in Insur-ance and Risk Management to serve the needs of the insurance industry.

Dr. Acolla Cameron, UWI’s Department Head, Management Studies, noted that UWI em-braced the opportunity to provide advanced training and education in the field of insur-ance.

The B.Sc. Insurance and Risk Management welcomed its first cohort of students in Sep-tember 2012 with an intake of 30 students (15 males and 15 females). In 2013, the num-bers increased to 14 males and 18 females. The first cohort is expected to graduate in 2015.

Ms. Marlene Murray, no stranger to the insurance industry, has assumed the position of Full-Time Lecturer in the programme and provides academic oversight for the insurance and risk curriculum. She ensures that the programme remains relevant to the needs of the industry. Marlene is joined by a group of specialists in various aspects of the insurance industry in the delivery of the programme.

UWI is exploring the option of offering a number of its courses online to facilitate the work demands of the insurance professionals. Additionally, Management Studies plans to host a series of workshops in different areas of insurance management, beginning with a work-shop on Insurance Accounting.

Together TTII and The UWI will ensure that the needs of the industry are well served.

Click here for more on the B.Sc. Insurance and Risk Management

Why is AML/CFT so important?

When we consider “risk” within the Insurance Industry in Trinidad and Tobago, money laundering or finance of terrorism comes to mind without taking into consid-eration the various components of the Industry, i.e. products, customers, distribu-

tion channels and geographical locations.

Certainly, general insurance products have no features of cash value or investment which is the benchmark applied to determine whether or not a product is attractive to the laun-derer and therefore cannot be used to facilitate money laundering or terrorist financing.

In this context, therefore, we must consider the life insurance industry. Many of its prod-ucts have features of cash value and investment and are therefore vulnerable.

The underlying value of a policy can be used as collateral for a loan or can be redeemed at an early date, generating funds from an apparently legitimate source. A cheque issued by an insurance company - a regulated entity - would be readily accepted by almost anyone.

Other vulnerabilities include lack of awareness that insurance products can be used to launder funds, failure to implement procedures that may identify suspicious transactions, acceptance of cash, the focus on claims fraud which is perceived as being the only crime threat to insurers, and the use of intermediaries to market the products.

The advent of AML/CFT legislation and all the attendant requirements to implement cus-tomer identification procedures training has been of great benefit to the way in which in-surance business is now conducted. It has strengthened the control framework, reduced the risk of fraud and generally encouraged insurers to consider the quality of business that is taken on. Quality business is sustainable business.

Most importantly, it has levelled the playing field. An insurer will no longer be considered as an alternative place to launder funds by a person who has been rejected by another financial institution.

Dr. Acolla Cameron

Ms. Prabha Siewrattan

AIIC 2015 Conference

Professional Education for Insurance Experts

New legislation, a new breed of customers and a competitive

environment that is increasingly aggressive.

How can your team stay relevant through all these significant

changes? Technical insurance education is the answer.

ATTEND THE 2015 AIIC ANNUAL EDUCATION

CONFERENCE

NOVEMBER 11-13, 2015 IN PORT OF SPAIN, TRINIDAD

Register your interest and receive further updates!

Email us at: mail@ttii.org.tt

The 2015 AIIC Conference will be held in Trinidad & Tobago

Tribute to Bruce Kelly To us at TTII, Bruce Kelly was more than a fountain of knowledge, a

teacher, a mentor…he was a friend. Always the sports enthusiast, he

umpired cricket matches and played rugby. He also possessed a

unique sense of humor that he shared with staff and students alike,

for instance…What goes zzub, zzub? A bee flying backwards.

Mr. Kelly was a devout family man and that often translated in the

way he treated other people…with respect and warmth. He also of-

fered advice on professional development, the insurance industry and

life in general to willing ears.

Personable, friendly, kind and involved are a few words often used to

describe him. His approachable demeanor, penchant for giving nick-

names and love for black coffee are a few of the memories that we

will keep close to our hearts, today and forever. Thank you, Bruce!

The late Bruce Kelly 14.02.61—24.09.14

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DON’T BE LEFT BEHIND! PARTICIPATE IN OUR WORKSHOPS!

COMING IN APRIL….BONDS, FIRE AND SPECIAL PERILS!

CLICK HERE FOR THE FULL YEAR’S CALENDAR OF ACTIVITIES,

INCLUDING UPCOMING AIIC COURSES!

For all your inquiries about upcoming workshops,

please contact: Ms. Falconilla Harripaul: fharripaul@ttii.org.tt

Workshop Target Audience

Introduction to Bonds (Introductory) Underwriters, Claims Staff, Agents, Brokers

Bonds (Intermediate) Underwriters, Claims Staff, Agents, Brokers

Development in Bonds (Advanced) Underwriters, Claims Staff, Agents, Brokers

Fire and Special Perils - Policy Underwriters, Claims Staff, Market-

Fire and Special Perils - Additional Memoranda/Extensions

Underwriters, Claims Staff, Market-ing Staff, Agents, Brokers

What our students are saying…

The course “opened up my eyes” and gave me a good understanding on the various classes of

insurance that comprise General Insurance. It will assist me in my career by widening my hori-

zons.”

Mr. Aaron Barkarr, who attended the State Licensing General Classes and was successful in the

State Licensing General Examination, is a Claims Technician at Massy United Insurance, has

worked in the Insurance Industry for the past five years. He recommends this to anyone entering

the Insurance Industry.

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We met at Jaffa

Early guests at the TTII’s Appreciation Luncheon at Jaffa Restau-

rant seized the opportunity to network and mingle over drinks. A

warm welcome from Trustee Rhona Romany was quickly followed

by indulging in the scrumptious buffet.

Industry guests got a TTII ‘Year in Review’ for 2014 and a moving

tribute to the late Bruce Kelly. Dr. Acolla Cameron, Head of the

Management Studies Department at The UWI brought everyone

up to speed on the latest in the B.Sc. in Insurance and Risk Man-

agement. Chairman of the Board of Governors, Mr. Douglas

Camacho, gave a highly motivational address, bringing everything

into perspective.

Honourees

The highlight of the luncheon was the surprise presentation to in-

dividuals who have contributed to the Insurance Industry and to

the TTII. These were Ruqayyah Ali, Seema Rampartap and

Sharon Lans.

Contact Us

Trinidad & Tobago

Insurance Institute

8 Stanmore Avenue,

Port of Spain.

: (868) 625-2940

: (868) 624-2817

: (868) 625-5132

Email: mail@ttii.org.tt

Visit us on the Web

at www.ttii.org.tt