Barbados and other Caribbean nations are confronting escalating financial and insurance risks driven by climate change—threats that, if left unaddressed, could undermine regional stability. This warning was issued by Marlon Yarde, President of the Barbados International Business Association (BIBA).
Speaking at the launch of the 2026 Barbados Risk and Insurance Management Conference (BRIM) on Tuesday at Pelican House, Harbour Road, Yarde emphasised the growing significance of these risks. “Today, these challenges are among the primary determinants of our regional economy,” he said. “Constraints in the reinsurance market, regulatory pressures, and rapid technological change are exposing the region to new vulnerabilities. Failing to prepare for these shifts is our greatest risk.”
The two-day conference will take place on 26–27 March at the Wyndham Grand Barbados Sam Lord’s Castle Resort, bringing together insurers, regulators, risk managers, and innovators.
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Shifting Risk Landscape
“The global risk map is evolving at an unprecedented pace,” Yarde told journalists. “Climate volatility, economic uncertainty, geopolitical tensions, and technological innovation are the main drivers. In this context, insurance and risk management are no longer merely back-office functions—they are vital pillars of national stability, business competitiveness, and investor confidence.”
BRIM 2026: Purpose and Significance
BRIM 2026 is designed as a strategic platform to help Caribbean nations navigate the evolving global reinsurance market, heightened competition, and changes in premiums and capacity. Key questions set to guide discussions include:
Under what conditions could the region become ‘uninsurable’?
How can risk transfer be maintained in a cost-effective and sustainable manner?
The conference will explore long-term planning and strategies to strengthen regional preparedness.
Regulation and Investor Confidence
Beyond risk, market confidence increasingly relies on strong regulation, accountability frameworks, and government transparency. “In a world where capital is selective and risks are rapidly assessed, trust is essential,” Yarde said. “It is built on robust governance, transparency, and regulatory foresight.”
Barbados’ Insurance Position
Highlighting Barbados’ established presence in the captive insurance sector, Yarde cautioned that competitive advantage is not guaranteed. BRIM 2026 will specifically examine whether Barbados can emerge as a hub for Managing General Agents (MGAs) and how innovations in digital assets, cryptocurrencies, and financial infrastructure are shaping regional risk and cyber-security challenges.
Conference Overview
| Topic | Details |
|---|---|
| Conference | BRIM 2026 |
| Dates | 26–27 March 2026 |
| Venue | Wyndham Grand Barbados Sam Lord’s Castle Resort |
| Key Speaker | Marlon Yarde |
| Focus Areas | Climate risk, insurance preparedness, regulation, captive insurance, digital assets |
| Objectives | Regional stability, investor confidence, sustainable risk transfer |
Yarde concluded, “Decisions made within the insurance and risk management sector have direct impacts on regional economies and communities.” Through BRIM 2026, Barbados and other Caribbean nations aim to establish clearer strategic guidance and strengthen resilience across risk and insurance management.