ABIR lays out suggestions for immigration reform

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The Association of Bermuda Insurers and Reinsurers (ABIR) has issued their suggestions for immigration reform, as the attention surrounding their recent survey results has reached a fever pitch.

The group, which represents Class 4 reinsurers based in Bermuda, laid out its concerns about what they feel is are “critical immigration matters” and a two-step approach to reverse the outflow of seniors executives from Bermuda.

“One: in the short term with regard to currently employed key executives, we need a return to the basic practice of granting exemptions from term limits to key business executives, granting extensions as appropriate and providing waivers to expedite and pave the way for approvals that keep key business executives here,” said Brad Kading, president of ABIR.

He added that if granting a nanny a work permit extension is necessary to keep a senior underwriter here, then that permit should be granted. For new business executives, he added, Bermuda needs to “remove the hassle factor and allow for expedited hiring of key employees.”

Long term, said Mr Kading, Bermuda needed to rethink work permits as applied to international insurance companies.

“ABIR members have already demonstrated our commitment to hiring Bermudians. We’ve documented that. We need flexibility to bring in and keep essential business executives here as long as they want to be here.”

He added that: “ We’re losing jobs for Bermudians here in part because the immigration system here is tying the hands of CEOs who want the best and the brightest in their shops — fast. They get more flexibility in Dublin, New York and Zurich.”

Mr Kading said a new system had to be in place, quickly, by 2013.

“Bermuda is a good place to locate a company, let’s improve the hiring environment so that companies have a reason to locate more people here,” he said. “ We would encourage the Government to build upon the positive changes they’ve made.”

ABIR’s survey, which was released on Monday, showed five ABIR members who historically have had the largest Bermuda-based workforces have cut staff numbers on the Island by almost a quarter over the last four years. Over the same period, the number of Bermudian citizens (including spouses of Bermudians and permanent residents) on their payroll fell by one-fifth.

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