Bermuda Insurance Exchange under discussion

bermuda reinsurance club-nyie-panel

Plans to create a Bermuda Insurance Exchange have been put to Government, Flagstone Re chairman Mark Byrne has revealed at a Reinsurance Magazine event on the island.

During a panel discussion on the attempts to resurrect the New York Insurance Exchange (NYIE), Mr Byrne said he thought Bermuda had a better chance of making such an entity work.

However he noted that

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ABI insists fire safety scheme is temporary

Mervyn Skeet, the Association of British Insurers’ director of general insurance, has outlined how the trade body will ensure the Fire Safety Reinsurance Scheme will only last three to five years, and how it will should end criticism of brokers earning commission for arranging cover.

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