Strategic Management and Culture in the Bahamian Insurance Industry
The Bahamian insurance industry is divided into two main braches: one domestic, one captive and each operate without regard to the other, overseen by their own act of Parliament (Oxford, 2009). Within this field, around 100 companies are engaged in business, the bulk of them working as brokers, with just a few working as underwriters, working closely together when they do (Oxford, 2009). There appears to be a system of checks in place: agents aren't able to underwrite, and companies cannot engage in sales pitches to prospective customers directly (Oxford, 2009).