KINGSTON, JAMAICA (April 19, 2018) —During Wednesday’s AGM of the Insurance Association of Jamaica (IAJ), members elected BCIC’s GM Peter Levy to take over the position of President, effective immediately. Levy replaces outgoing President, Eric Hosin, President of Guardian Life who served for two years. Under the IAJ’s Constitution the Presidency is rotated every two years between the Life and General Insurance Industries. Peter Levy has served as Vice President General for the IAJ before being elected President. Mr. Levy will be supported by Vernon James Vice President Life and Mark Thompson Vice President General. The remaining members of the Executive will be confirmed next month When the respective Executives Meet.

“Mr Levy has been a long-time advocate for insurance consumers and brings extensive experience and expertise to the Presidency that can only help to strengthen our body,” said IAJ Executive Director Orville Johnson.  Mr Hosin as he demitted office said “I want to thank all the members of the association who played a part in this process. We are blessed to have a high level of commitment and willingness of those in our ranks to support the goals and the charge of our association.”

At yesterday’s AGM Levy touched on 4 (Four) key areas that he would focus on during his tenure as President: IVIS (Insurance Vehicle Information System), Road Safety, Fraud and insurance Penetration.

Levy stated that the IAJ would be implementing the Insurance Vehicle Information System (IVIS) by the end of the second quarter. This is a database of all the insured vehicles in Jamaica. Mr Levy said “This system is expected to make a major dent on the perpetrators of counterfeit insurance Certificates and Cover Notes,and reduce the number of uninsured vehicles that operate in contravention of the law, and that put at risk innocent motorists, cyclists, and pedestrians”. This programme would be carried out by Insurance Companies and Insurance Brokers in Partnership with EGov, the Tax administration Department and the Police who will have access to the IVIS database to verify a vehicle’s insurance status.