Ms. Michelle Martin, President, ComplianceAid presented at the 32nd Annual Caribbean Insurance Conference in St.Thomas, USVI- June 3rd – 5th, 2012. Ms. Martin, presented on The challenges and possible solutions to inter-island operations.

As regulatory bodies are multiplied across jurisdictions, insurance companies are operating in an ever growing complex business environment. In this session we will discuss the following inter-island challenges and some possible solutions.

• Insurance Deposit requirements
• Regulatory Requirements (for example: different agent and registration fees)
• Reporting Requirements (for example: different forms)
• Transportation Board Differences
• Re- Insurance Treaties
• Tax Regimes
• Currency Exchange
• The Foreign Account Tax Compliance Act (FATCA)
• Anti-Money Laundering and Counter Terrorism Financing