The Grenada Authority for the Regulation of Financial Institutions (GARFIN) empathises with the people of Grenada, Carriacou and Petite Martinique following the passage of Hurricane Beryl on 1 July 2024.
GARFIN is the Regulator and Supervisor of the Non-Bank Financial Sector which includes Insurance Companies & Intermediaries.
From contact and discussions with general insurance companies (those companies that insure properties, boats and marine vessels, motor vehicles, etc.), GARFIN wishes to assure the public that these companies are taking all the necessary steps to ensure that policyholders’ claims and concerns will be handled in a thorough, efficient and speedy manner.
Further, GARFIN, as the Supervisor of Insurance, ensures that all insurance companies operating in Grenada are financially sound, meet statutory solvency requirements, maintain sufficient acceptable assets in their insurance fund and have sound risk management practices inclusive of adequate reinsurance coverage. GARFIN shall continue to monitor the progress made with claims settlement over the coming weeks.
Denis Felix
Executive Director
Grenada Authority for the Regulations of Financial Institutions (GARFIN)
