Insurance Act amended on Bermuda

The Insurance Amendment Act 2004 has come into effect for the insurance industry on Bermuda.The Act, which amends the Insurance Act 1978, was passed by both the House of Assembly and the Senate of Bermuda soon after parliament reconvened in November last year, and received assent from the Governor of Bermuda on 10 December, 2004. This final assent marked the end of a nine-month process of consultation among representative groups of Bermuda's insurance industry - insurers and reinsurers, brok