01 — Health Insurance
International Health & Evacuation Non-Optional — Local System Cannot Handle Complex Cases
CBI Requirement — Health Insurance Among Mandatory Application Documents
Dominica’s Citizenship by Investment programme requires applicants to hold valid health insurance as part of the application package. There is no universally published rule mandating private health insurance for all foreign residents, but CBI and residency advisers treat private health cover as a de facto requirement given the severely limited public healthcare system. Do not rely on the public system for primary HNW medical needs.
The Dominica China Friendship Hospital in Roseau is the main hospital. Complex procedures, advanced diagnostics, and specialist care are not available locally — serious cases are routinely evacuated to Barbados, Trinidad, the Dominican Republic, or further afield. Dedicated evacuation cover inside an international health policy is the single most important insurance decision for a Dominica investor.
International Major-Medical & Evacuation
Primary HNW Layer — Non-Negotiable
Why Primary
Limited tertiary care capacity on-island; complex cases evacuated to Barbados, Trinidad, US, or Europe; medical evacuation benefits inside international health policy are essential, not optional extras
Key Providers
Cigna Global, Allianz Care, Bupa Global, AXA Global Healthcare — worldwide-including or worldwide-excluding-US plan options; standalone air-ambulance / evacuation membership also available as supplement
Indicative Annual Premium
~USD 2,500–6,000+ per adult for comprehensive international cover with evacuation; consistent with global HNW expat pricing; higher for older applicants or US-treatment inclusion
Evacuation Destinations
Barbados, Trinidad & Tobago, Dominican Republic, United States, or Europe depending on insurer network and medical complexity; confirm policy includes Caribbean-region evacuation as a standard benefit, not an exclusion
Local / Regional Health Cover
Supplemental Only — For Regular On-Island Time
Key Providers
Sagicor Life / Sagicor General, NAGICO (NAGICARE regional medical), Pan-American Life, GK Life, CUNA Caribbean — all have Dominica or Eastern Caribbean presence
Indicative Annual Premium
~USD 1,000–2,000 per adult for regional inpatient/outpatient coverage on a local Caribbean medical plan; varies by age and network
Key Gaps
Restricted to Dominica and neighbouring islands; low benefit caps; limited or no North America / Europe treatment; pre-existing condition exclusions; basic or absent evacuation benefits — unsuitable as the sole medical layer for any HNW investor
Recommended Role
Optional supplement for investors spending substantial time on-island who want direct-billing access at local clinics; always secondary to the international plan
02 — Property Insurance
Hurricane Maria Context: 98% Roof Damage, Premiums Nearly Doubled — Full Cat Cover Mandatory
Buildings Insurance — Full Catastrophe Cover
Non-Optional for Any Dominica Real-Estate Investment
Perils Required
Hurricane / windstorm (primary); flood and heavy rainfall; landslide (mountain terrain creates flash flood and landslide risk year-round); earthquake and volcanic eruption; storm surge; fire, lightning, explosion
Hurricane Deductibles
Watch Policies commonly impose percentage-based hurricane deductibles (e.g., 2%+ of sum insured) rather than flat deductibles; on a USD 500K property this could mean a USD 10,000+ deductible before the insurer pays — calibrate premium vs. deductible carefully
Post-Maria Premium Rate
Homeowners’ rates rose from ~USD 5 to ~USD 8 per USD 1,000 of sum insured post-Maria, later stabilising at ~USD 7–9 per USD 1,000 depending on construction quality and risk factors; commercial from ~USD 7.50 to ~USD 10.50 per USD 1,000
Indicative Cost (USD 500K Villa)
~USD 3,500–4,500/year at current homeowners’ post-Maria rates, before deductible trade-offs, additional riders, or construction-quality adjustments; HNW properties with premium finishes insured at higher reinstatement values will sit above this range
Sum-Insured Discipline
Critical Must reflect current post-Maria reinstatement cost, not purchase price; construction costs on the island have risen materially since 2017; outdated sums insured trigger proportional underinsurance clauses — review and update annually
Construction Standard
Insurers underwrite more favourably for modern construction resistant to Category 4–5 events; confirm construction specification at purchase and disclose to insurer; high-risk construction types may face exclusions or loaded premiums
Key Local Providers
Caribbean Alliance, ICWI (Insurance Company of the West Indies), CG United, NAGICO, Sagicor General, GK General, Beacon, Island Heritage, New India Assurance — accessed via local agents: A.C. Shillingford, L.A. Dupigny, H.H.V. Whitchurch
CCRIF — Government Parametric Cover (Not a Substitute for Private Insurance)
Dominica participates in the Caribbean Catastrophe Risk Insurance Facility (CCRIF), which provides parametric catastrophe coverage to the government and public infrastructure — not to individual property owners. The CCRIF paid USD 19.3 million to Dominica post-Maria. This government-level parametric cover is entirely separate from private property insurance and does not protect individual villa or apartment owners.
03 — Landlord & Short-Term Rental
Catastrophe-Robust STR Cover — Platform Protections Are Not Insured
Dominica does not have a detailed, globally documented STR insurance mandate comparable to Cyprus’s CTO requirement or Turkey’s Law No. 7464 regime. However, the catastrophe-risk environment means property cover — including business-interruption and loss-of-rent — requires specialist attention for any vacation-rental or resort-unit investor. CBI-linked developments typically require comprehensive cover by contract.
Landlord & Rental Income Cover
Local Agents — Catastrophe-Driven Structuring
Landlord Liability
Available as add-on to homeowners’ or commercial property policy via local agents (Sagicor General, NAGICO, Caribbean Alliance); covers bodily injury and property damage arising from ownership or occupancy, including slips, falls, and falling objects
Loss-of-Rent Extension
Critical Post-Maria Pays rental income if property is uninhabitable following an insured peril (hurricane, fire, flood); particularly important in Dominica given hurricane exposure; priced as additional rate per USD 1,000 of insured rent or as percentage of buildings premium
Short-Term Rental / Vacation
No specific Dominica STR insurance mandate published; tourist-property owners should secure: property cover including hurricane and flood, public-liability coverage for guest injuries, and loss-of-rent following insured catastrophes; disclose STR use to the insurer explicitly
Platform Protections
Airbnb AirCover and similar platform benefits are not regulated insurance products and are not tailored to Dominica’s catastrophe risk; do not rely on platform protections as a substitute for local property and liability cover
CBI Development Cover
CBI-linked developments, resort management agreements, and HOAs typically require comprehensive catastrophe cover by contract; verify individual unit insurable interest, actual policy limits, deductibles, and whether master policy extends to unit interiors and contents — do not assume
Business Interruption
Vacation-rental and resort-unit investors should structure business-interruption / extended loss-of-rent elements carefully; standard loss-of-rent covers physical-damage-triggered periods only; ensure the indemnity period is long enough to cover post-hurricane rebuild timelines, which can exceed 12 months
04 — Life & Wealth Protection
Dominica Is a CBI / Passport Jurisdiction — Not a Life Insurance Domicile
Wealth Planning Posture for Dominica
Dominica’s value in HNW wealth planning is primarily through its CBI programme and passport diversification benefits: no wealth tax, no inheritance tax, and programme-based access to a second citizenship. It is not a recognised hub for PPLI, PPVA, or sophisticated life-insurance structuring. HNW investors should maintain or implement life and wealth-insurance structures through established offshore centres (Luxembourg, Bermuda, Cayman, Singapore, UK) and treat the Dominica CBI as one component of a broader global estate plan.
| Life & Wealth Protection Framework | |
|---|---|
| Local Life Carriers | Sagicor Life EC Inc., Pan-American Life Insurance, GK Life Insurance, CUNA Caribbean; can issue term and savings-type life policies; suitable for basic regional needs, not for cross-border HNW estate planning |
| Portability of Local Policies | Caribbean-issued life policies can be portable across the region but may have restrictions on residence or benefit payment in certain jurisdictions; HNW investors typically prefer policies issued from major offshore centres for unrestricted portability |
| Offshore Life / PPLI / PPVA | Recommended Arrange through Luxembourg, Bermuda, Cayman, or Singapore platforms; Dominica is not a domicile for PPLI issuance; offshore life structures provide portability, cross-jurisdiction succession planning, and investment-linked flexibility not available from local Dominica products |
| Tax Benefits in Dominica | No wealth tax and no inheritance tax under Dominica’s domestic framework; limited mainstream commentary on specific domestic tax advantages of local life contracts for non-residents — benefits depend on the investor’s home-country tax rules |
| CRS / FATCA | Dominica participates in CRS and FATCA; regional banks and insurers operating in Dominica are subject to reporting obligations for cash-value life and investment-linked contracts; main FATCA/CRS compliance issues for HNW investors are handled via international banks and offshore insurers rather than Dominica-specific products |
05 — Regulatory Framework
Financial Services Unit Supervises — No Foreign-Ownership Restrictions on Insurance
Regulatory & Market Overview
FSU — Financial Services Unit of Dominica
Regulator
Financial Services Unit (FSU) of the Commonwealth of Dominica; licensing and supervisory authority for insurance; publishes official list of licensed insurers annually; 2025 list includes Caribbean Alliance, ICWI, CG United, NAGICO, Sagicor General, GK General, Beacon, Island Heritage, New India Assurance and others
Foreign Nationals
No nationality-based restrictions on foreign property buyers or CBI investors purchasing property, health, or life cover through local agencies; foreign owners can access the local insurance market without special prohibitions
CCRIF Participation
Dominica purchases parametric catastrophe cover via CCRIF for government and public infrastructure; this is not a substitute for private property insurance; it confirms that catastrophe risk is a nationally recognised systemic concern
CBI & Documentation
2024–2026 CBI programme refinements have stressed due diligence and clarified documentation requirements (health insurance, proof of funds); no material change to local insurance product availability; health insurance continues to be required in CBI application packages
Broker Split Approach
Use local intermediary (A.C. Shillingford, Whitchurch, Sagicor, NAGICO agencies) for property and catastrophe insurance placement with local/regional insurers; use an international broker or private-client adviser for international health insurance, evacuation cover, and offshore life/PPLI solutions