Find Insurance and Reinsurance expertise in Grenada

There are around 11 companies and brokers offering insurance services in Grenada. These include Grenada Motor and General Insurance Co Ltd, United Insurance Co Ltd, The Beacon Insurance Co Ltd and Chester John Agencies. There are also some international insurance companies working in the area, such as Netherlands Insurance Co Gda Ltd. Insurance services are categorised as commercial, personal and travel products. Commercial services include services like business interruption, while personal products include general insurance and life insurance. Travel insurance can cover both personal and group accidents. Grenada Authority for the Regulation of Financial Institutions (GARFIN) is the regulatory body for insurance companies. The Insurance Act, No. 5 of 2010 has repealed the Insurance Act of 1973. The new framework is in keeping with international standards and practices, and allows for stronger regulation and supervision of insurance companies. It also imposes penalties on companies for non-compliance.