Two leading risk managers said this week that Bermuda is key to their being able to cover risks for the large companies they work for.

Both gave their views during a special Bermuda session held on Wednesday at the prestigious Risk and Insurance Management Society?s annual conference, which wound up yesterday in San Diego.

Dennis Bennice, president of Dana Risk Management Corporation and David Arick, manager insurance programmes, GE corporate treasury at General Electric Co;, said Bermuda was an accessible market, with available capacity and was one of their first choices to do business.

Mr. Bennice, who took part in the morning segment of the all-day session ? which was titled ?Bermuda: The World?s Risk Capital? ? said his company had been doing business in Bermuda for 30 years.

In 1974, the company - which is a supplier of auto and truck components with revenues last year of $10.5 billion ? set up a captive Wrenford Insurance Co. Ltd., and has not looked back. The captive is still active as a multi-line insurer.

In total Mr. Bennice said that about half of the company?s risk transfer (of $100 million) has historically, and continues, to go to Bermuda-based companies.

He praised the island as an insurance market for its location and easy access, the long-term orientation of its companies, Bermuda underwriters being focused on the customer - including wanting to meet with the broker and client to ensure they understand the needs of that firm ? and ?streamlined Governmental regulations?, and the wealth of re/insurers and brokers with operations in Hamilton.

Mr. Arick, who took part in the afternoon session, echoed Mr. Bennice?s praise of the market, saying that it was often difficult for him to get out of the office, but a short trip to Bermuda allowed him to find solutions for many of GE?s risks.

In his presentation, he said that the Island offered ?all the major brokers and niche players in one spot; the ability to meet with multiple insurers in a single short, trip, as well as access to senior management to better understand long-term goals of insurers?.

Both Mr. Bennice and Mr. Arick stressed that the level of service they got in Bermuda was superior to the US and UK, with Bermuda underwriters and insurance management taking the time to know the client and try and find the best risk solution for them.

They each liked that Bermuda?s players had a long-term orientation, with their being some criticism of Lloyd?s market participants for their ?get in, get out? approach to writing certain lines.

Beyond service, the risk managers said Bermuda had the capacity ? with both having to place significant business to cover the diverse risks for their respective firms.

In GE?s case, Mr. Arick said Bermuda had been a particularly good market for their placement of D&O risk.

He said that the company buys the bulk of its directors? and officers? (D&O) coverage on the Island, at both the primary and excess layers levels.