A new business conference in Bermuda that sold out months in advance has led to an additional unexpected boost for the island.

The inaugural Bermuda Healthcare Forum, which starts on Wednesday, attracted an overwhelming response from delegates wishing to attend and had filled its quota of 160 places by December.

And the event has caught the attention of the American Society of Healthcare Risk Management, which has now invited Bermuda to be involved at its prestigious annual conference in Seattle later this year.

The two-day Bermuda Healthcare Forum is at the Rosewood Tucker's Point Resort, and will feature world-class speakers and industry experts.

More than 100 of the delegates are coming from overseas, and a total of 278 hotel room nights have been booked, mostly at Tucker's Point and Grotto Bay, in connection with the forum.

Annie Sousa, senior vice-president at Aon, who helped spearhead the forum, said it is the first of its kind for the healthcare insurance industry in Bermuda.

“The concept of the forum originated from a meeting last year, when Aon Bermuda invited all the leaders of our main healthcare markets to discuss the future of our industry,” she explained.

Vivienne Moniz, senior vice-president and underwriting manager for excess casualty insurance at XL Catlin, said the island's insurance and reinsurance market has served the insurance needs of some of the largest health systems in the US for more than 30 years.

She added: “The Bermuda market is known for innovative solutions to complex risk.

“We boast some of the best talent in the industry and the forum provides a platform for carriers and brokers to engage with our clients to ensure we continue providing solutions to our clients' needs.”

The event has attracted executive management, captive, insurance and finance specialists in the healthcare industry.

About 30 local companies will participate, representing major insurance, broking, accounting and legal firms, while the overseas guests include a cross section of brokers and representatives in roles such as finance, risk management, patient safety and quality and legal from some of the largest health systems in the US.

Kim Morgan, healthcare practice leader at Endurance Bermuda, said: “With US healthcare providers facing many of the same challenges post the passing of the Affordable Care Act, and now the uncertainty brought with a new governmental administration, this is an invaluable opportunity to bring our customers together in an intimate setting in Bermuda to hear from speakers on topical subjects that range from programme design to data analytics to successful claims defence strategies, all of which we hope will serve to better prepare them for this changing healthcare environment.”

The organisers of the forum said they are delighted to be able to showcase “the resources of the collective Bermuda healthcare market which play a significant role in the risk financing of many of the larger healthcare systems in the US”.

The forum is also seen as a useful venue for renewal meetings and networking. It has also drawn on the services and expertise of local businesses.

Kareen Richardson, senior vice-president at Integro, said: “The forum committee has teamed up with various Bermudian firms to bring this event to fruition.”

Among those involved are Terry Madeiros, of TM Designs, who created the event logo and brand, Amy Peniston who did the webpage, and event photographer Susan Thomas.

Electronic Services Ltd is fulfilling the audio and visual needs of the event, and Selange Gitschner, of Dasfete, is handling logistics.

Ms Richardson added: “We are very fortunate to have access to such talented Bermudians who have assisted us immensely with our technical needs. We are pleased with the market and industry collaboration and thrilled with the overwhelming response of overseas attendees.”

The unexpected invite to participate in the Ashrm conference in Seattle in October is a feather in the cap for Bermuda. An executive from Ashrm has been invited to attend this week's forum.

At this week's Bermuda Healthcare Forum, Ross Webber, chief executive officer of the Bermuda Business Development Agency will be a keynote speaker, while Ricky Braithwaite, of the Bermuda Health Council, will sit on a panel to discuss delivery system transformation.

The forum is sponsored by Aon (Bermuda), Ascot Underwriters, BDA, Integro (Bermuda), XL Catlin, Allied World Assurance, Bowring Marsh Bermuda, Endurance Insurance, Iron-Starr Excess Agency, Chubb Bermuda, Atlantic Security Brokers, JLT Re, Healthcare Risk Partners, Willis Towers Watson, Arch Insurance, Argo Re, Lockton Bermuda, Markel Global Insurance Bermuda, RKH Specialty and R&Q Quest Management Services.