Are private health insurance markets regulated? | Jamaica Are private health insurance markets regulated? | Jamaica

27 Sep 2022

Private insurance markets are regulated by the Insurance Act (2001). This act applies to all insurance intermediaries and all insurers, whether established in or outside of Jamaica that carry on in Jamaica, these include:

  1. Ordinary long-term insurance
  2. Property insurance
  3. Accident insurance
  4. Liability insurance
  5. Pecuniary insurance
  6. Motor vehicle insurance
  7. Marine, aviation, and transport insurance
  8. Industrial life insurance
  9. Sickness and health insurance
  10. Other classes of insurance business as may be prescribed by the Minister by order, subject to affirmative resolution.

Regarding sickness and health insurance, eligibility is decided based on the insurance company. However, the Insurance Act stipulates that making or permitting any unfair discrimination between persons will be a violation of the act and deemed as unfair trade practices. Health claims paid are determined by the contract.