Bermuda

InsureReinsure.com Turns One, Launches Subscription Feature

By Troutman Pepper Locke on June 11, 2008

Posted in Bermuda, European Union, Hong Kong, Industry Developments, United Kingdom, United States

Today is the one-year anniversary of the launch of InsureReinsure.com and we mark the occasion by adding an additional feature for our readers. Beginning today, on the left-hand side of your screen, you will see a new link allowing you to “subscribe” to InsureReinsure.com to receive emails each workday morning with links to the prior day’s posts.

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REMINDER — U.S. Reinsurance Under 40s Spring Event to Take Place on May 29 in New York

By Troutman Pepper Locke on May 27, 2008

Posted in Bermuda, Industry Developments, New York Developments, Reinsurance, United Kingdom, United States

Please join the U.S. Reinsurance Under 40s Group for its Spring Event on May 29 in New York.

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Bermuda Issues Draft Legislation Relating to Anti-Money Laundering and Counter Terrorism Financing

By Troutman Pepper Locke on May 13, 2008

Posted in Bermuda, Regulatory

The Government of Bermuda has reinforced its commitment to ensuring that Bermuda has a strong, robust and effective regime for the combating of money laundering and terrorist financing by issuing, for consultation and comment, draft legislation and other related documents relating to Anti-Money Laundering (AML) and Counter Terrorism Financing (CTF).

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Market confidence in Bermuda as a leading centre for international insurance and reinsurance remains strong

By Troutman Pepper Locke on April 16, 2008

Posted in Bermuda

The Bermuda Monetary Authority (BMA) reported on 14 April 2008 that the Bermuda insurance market continues to maintain a strong performance, against a backdrop of a soft global market. …

Bermuda Monetary Authority Website Sets Out Detailed Regulatory Standards

By Troutman Pepper Locke on March 31, 2008

Posted in Bermuda, Regulatory

The Bermuda Monetary Authority (BMA) has launched a new website providing detail about Bermuda’s regulatory standards online, which demonstrates the BMA’s commitment to providing open, transparent regulatory frameworks and requirements.

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Bermuda Regulatory: Bermuda Monetary Authority Publishes 2008/9 Business Plan

By Troutman Pepper Locke on January 23, 2008

Posted in Bermuda, Regulatory, Solvency II

The Bermuda Monetary Authority (BMA) has published its 2008/9 Business Plan. The Business Plan sets out the BMA’s goal to become internationally recognised as a leading risk-based financial regulator.

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Cox Appointed as Deputy CEO at the BMA

By Troutman Pepper Locke on January 22, 2008

Posted in Bermuda, Regulatory

The Bermuda Monetary Authority has appointed, with immediate effect, the current supervisor of insurance, Jeremy Cox, as deputy to CEO, Matthew Elderfield. The BMA is the body responsible for, among other things, regulating and supervising financial institutions in Bermuda, including those conducting deposit-taking, insurance, investment and trust business in Bermuda.

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A New Beginning for InsureReinsure.com

By Troutman Pepper Locke on January 1, 2008

Posted in Bermuda, European Union, Hong Kong, Industry Developments, United Kingdom, United States

Today marks a new beginning at InsureReinsure.com and we want to welcome all of our new readers to this Blog.

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Lloyd’s Insures Against Grinch

By Troutman Pepper Locke on December 27, 2007

Posted in Bermuda, European Union, Hong Kong, Industry Developments, Lloyd's, United Kingdom, United States

Lloyd’s recently issued a press release that it has begun offering a new type of cover – an event cancellation policy that will indemnify insureds for their losses if Christmas is cancelled, postponed, interrupted, curtailed or relocated due to the Grinch’s actions.

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Bermuda Form: The Court of Appeal upholds an anti-suit injunction to prevent a challenge to an English Arbitration award in the US

By Troutman Pepper Locke on December 26, 2007

Posted in Arbitration, Bermuda, New York Developments, United Kingdom

In C v D [2007] EWCA Civ 1282, D insured C under a Bermuda Form policy that provided for London arbitration and was governed by New York Law. C commenced arbitration proceedings in London against D for unpaid monies and the Tribunal held that C was entitled to recover in full.

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