Bermuda maintains its position as one of the world's leading centres for insurance and reinsurance. Almost all global (re)insurers and brokers have a Bermuda presence providing much needed capacity and services to corporate insureds, ceding insurers and self-insured entities. Although, perhaps best known for its innovative "Bermuda Form" insurance policy, captive insurance and property catastrophe reinsurance (e.g. 60% of the hurricane reinsurance for Florida and Texas), the Bermuda market provides coverage across almost all lines of business and is a market leader in numerous risk classes including D&O insurance, employers' liability, punitive damages cover, crop insurance, medical liability, warranty and indemnity and cyber coverage.
Bermuda's global outlook is reflected by those who work in the market attracting insurance professionals from around the world, by the quality of its regulation and through insurance products that cater for the needs of its international client base, including by adopting international arbitration as the means for resolving disputes in a neutral and even-handed manner.
Managing Partner of our Bermuda office Mark Chudleigh, and corporate and regulatory head Nick Miles, have contributed the Bermuda chapter to the International Comparative Legal Guide to: Insurance & Reinsurance 2019, including summaries of Bermuda law pertaining to common regulatory, claims, litigation and arbitration issues. Read the chapter in full here.
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Kennedys operates in Bermuda in association with Kennedys Chudleigh Ltd.