50 years ago – First captive insurance company established; government buys Turtle Farm
The leading story on the front page of the 25 March 1976 Caymanian Compass was on a Boston, Massachusetts medical group establishing a Cayman insurance company. The article noted that 11 hospitals and health centres affiliated with Harvard University formed their own company to free them from commercial insurers and save millions of dollars in premiums.
The founders said the organisations were driven to do this because they were being “brutally penalised by the prevailing malpractice system that charges a single high rate for good and poor risks alike”. For a more complete summary of the story, please see the below link:
Published on: Mar 29, 2026 03:15 PM