Bahamas News
Businessman Mario Carey Urges Insurance Company Reform, Liberalize Whole Life, Extend Health Coverage
#TheBahamas, June 1, 2022 – Less than one week after insurance companies asked the Insurance Commission to allow them to invest in U.S. funds, a leading businessman is calling for a lifting of similar restrictions on the consumer, declaring that Bahamians should be allowed to seek coverage from companies outside the jurisdiction.
“The laws that govern how and where Bahamians can obtain health and life insurance hurt the average middle class Bahamian the most,” said real estate pioneer and social entrepreneur Mario Carey. “The insurance companies want the right to invest abroad and I believe as Bahamians we should have the right to seek health and whole life insurance abroad.”
Carey’s comments came in the wake of news that a leading underwriter was seeking an exemption to the insurance regulations that forbid Bahamian insurance providers from investing in foreign entities.
“I understand the good intention of those restrictions given the failure of one insurer whose holdings outside The Bahamas brought the company down, but while there are lessons to be learned from that, the consumer need not be punished because of it. We should insist on insurance rights, including the right to seek competitive rates, terms and provisions, just as the wealthy who have more than one address can do, or large businesses with numerous holdings that may be registered elsewhere do.”
Carey, who founded Better Homes and Gardens MCR Bahamas and is CEO of Mario Carey Ventures, enterprises aimed at social entrepreneurship, said current policies are especially hard on caregivers of elderly parents or offspring with special needs. His adult son registers on the high end of Asperger’s, the highest functioning form of the autism spectrum and Carey worries about how he will be cared for.
“As it stands now, a policy dies when the policyholder passes away, so for the policyholder who predeceases his or her parents, who is going to cover the health insurance costs if the policyholder is no longer alive? Who is going to provide the health care coverage for a child who is severely disabled and needs frequent, expensive medical attention
if the health insurance policy is only good as long as the original policyholder lives and breathes, even if they bought it primarily to protect their loved ones? Do they go to their grave knowing they have left someone imperiled with no life boat to grab hold of?”
The answer, Carey believes, is twofold – allow funds to buy policies so the policy continues to live so long as the fund exists. Secondly, he says, allow Bahamians to shop and compare.
“We don’t force people to buy cars only from Bahamian auto dealers, why should we require Bahamians to buy health insurance – one of the most significant investments you will ever make – only in The Bahamas? While everything else around us has changed, we’ve been doing insurance the same way in The Bahamas since the middle of the last century,” said Carey. “I think it’s time we take a good look at the industry, how it serves clients, what we can do to improve it. There are some serious questions we need to ask. How do we ensure client rights? What we can learn from other places where there is a more liberal policy as to who can own a policy? In other places, a policy can be purchased by or through a fund that holds it and it provides options for the beneficiary or insured.”
Carey said he is far from alone in urging a more responsive insurance industry.
“We all know someone who is complaining about fighting for their rights to get a claim paid or a policy reinstated, even a policy they may have paid on for 20 years but had to let lapse to put food on the table during COVID-19 when they were out of work,” said Carey.
Carey, who has enjoyed a successful career in real estate closing in on $2 billion in transactions, has devoted much of the last two years to finding solutions for a host of issues. Also on the drawing table – a regional disaster recovery centre in southwest New Providence that would transform the former Bacardi plant and its 100,000 square feet of enclosed space into a readiness launching pad from which everything from helicopters to generators, tents to nonperishables can be sent as disaster strikes, saving time and lives.
“Look around you,” says Carey. “Everything has changed over the last 20 years, the phone you are using, the computer you are typing or designing on, even the way you get your news. Yet insurance, one of the most important basics of a well-planned life, has remained much the same as it was 50 years ago except that you may get your statement by email. It’s time to take a look, a serious look and see how we can bring it into the 21st century.”
NASSAU, Bahamas — More Bahamians are accessing HIV and sexually transmitted infection-related healthcare through National Health Insurance, a trend the NHI Authority says should be viewed positively.
NHIA stressed in an August 6 statement that its 2025 figures measure healthcare utilisation, not newly diagnosed infections. They include beneficiaries screened, treated, monitored or receiving follow-up care, including people diagnosed previously.
“Increased utilisation of these services should be viewed as a positive development,” NHIA said.
The Authority pointed to “greater enrolment and use of NHI, improved access to screening and testing, continued treatment and monitoring of existing conditions, and increased willingness to seek medical care.”
The development comes amid a mixed three-year HIV picture. New diagnoses rose from 130 in 2023 to 156 in 2024, before declining to 142 in 2025.
NHIA said increased utilisation demonstrates that more beneficiaries are accessing needed healthcare and actively managing their health, reinforcing the importance of screening, early diagnosis and continued treatment.
NASSAU, Bahamas — Caribbean Wines & Spirits (CWS), The Bahamas’ premier wines and spirits distributor is proud to announce the launch of Monument Beverage Co., its newest 100% locally produced ready-to-drink alcoholic cocktail.
Monument, “Made to Celebrate”, perfectly encapsulates everything the brand represents. Created and distributed by CWS, Monument is
inspired by culture, crafted with excellence and bursting with innovation.
This unique beverage celebrates island living with three bold flavors, Ginger Lime, Peach Passion and Melon Fizz. All of which can be enjoyed at an ABV of five-point-two percent.
The brand’s creativity really shines through each can’s packaging. Bold colored stripes, cherished native flora and fauna and of course, national monuments can all be found on each can.
The beverage’s two year plus development is a testament to CWS’ dedication to quality and innovation. Countless hours of tastings, reformulations, focus groups and package design reviews all paid off with the creation of Monument.
Karla Wells-Lisgaris, Chief Commercial Officer of Caribbean Wines & Spirits and Caribbean Bottling Company (CBC), local producers of Coca-Cola and Dasani products, shared what this authentically Bahamian made product launch means for the company.
“When we were conceptualizing Monument, we wanted to create a product that not only tasted like The Bahamas but would be an ode to the
nation as well. With those two thoughts in mind, I, along with a team of experts, created three incredible flavors we believe really connect with and celebrate the essence of island living,” she said.
“Additionally, being that Monument is the first product to be 100% manufactured by Caribbean Wines & Spirits, we really wanted to ensure that both the flavors and packaging honored our rich heritage. On each of the cans, you can find various monuments such as the Nassau Public Library in New Providence, the Garden of the Grove in Grand Bahama and the Hatchet Bay Silos in Eleuthera; all of which pay homage to our diverse Bahamian heritage.” Wells-Lisgaris concluded.”
The historic monuments found throughout our islands are more than places we pass every day; they are reminders of who we are, where we’ve come from and the stories that connect us as Bahamians.
Monument is perfectly formulated with quality ingredients, and each can celebrates a collection of these cultural icons from across The Bahamas.
Whether chilling solo beachside, gathered around a family table or backyard a grill with friends, make Monument your sip of choice. Monument is made to celebrate, visit www.cwsbahamas.com today for more details.
NASSAU, Bahamas —– Caribbean Bottling Company (CBC), local producers of Coca-Cola and Dasani products, is proud to crown Lady
Kayla of Exuma as this year’s annual Bahamas Goombay Punch Cup winner.
CBC created the Bahamas Goombay Punch Cup to further the advancement of sailing and Bahamian culture through monetary and social support. The competition judges the skipper’s performance across three regattas, The Best of the Best, the National Family Island and Long Island Regattas.
The winning sloop led by Kianno Hutchinson and Joss Knowles showcased their skillmanship in the E-Class category across each round of competition. In addition to winning the trophy, the skippers were awarded a $5,000 donation, an $8,000 stipend to the junior sailing club of their island and a limited-edition Lady Kayla Bahamas Goombay Punch commemorative can, which will be released soon.
Jonathan Thronebury, Marketing Director of CBC shared the significance behind The Bahamas Goombay Punch Cup.
“The Bahamas Goombay Punch is more than a beloved local brand; it’s a vibrant part of our cultural fabric. Just like sailing, our national sport, it carries a rich legacy that spans generations. Recognizing this shared history, we’re proud to support initiatives that celebrate and advance Bahamian culture,” he said.
Hutchinson and Knowles shared what this win meant for them.
“I felt super proud when I realized we won. I am grateful and thankful to God, for good coaches and Joss. It was really an honor winning the
Bahamas Goombay Punch Cup,” Hutchinson expressed.
“I am very honored to have been able to compete in the Bahamas Goombay Punch Cup, I think it is a great concept and idea for a competition and really adds a new motive throughout the regattas. The whole championship was super competitive, and every single race was a fight. Alvington McKenzie was extremely competitive and had us until the Long Island regatta, which made it a very fun and tough competition. Very excited to have been the winner of a super close championship,” Knowles revealed.
Lady Kayla’s owner, Dallas Knowles, shared the team’s winning strategy.
“In sailing consistency is key and our guys in Lady Kayla are some of the best in the business at staying near the top. In the end, that was enough to secure their first Bahamas Goombay Punch Cup win. We are so proud of Joss and Kianno for what they have done in Lady Kayla. Thank you to Caribbean Bottling Company for such an amazing and forward-thinking initiative,” Knowles shared.
The Bahamas Goombay Punch Cup is proud to continue its impact on sailing and community building through clean and fair competition.
For more updates on the Bahamas Goombay Punch Cup and Caribbean Bottling Company visit the website www.cbcbahamas.com today.
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