The Bermuda Foundation For Insurance Studies (BFIS) is expanding the intern programme offered to Bermudians interested in pursuing careers in the insurance industry.

Next summer, for the fifth year running, two visiting students from Illinois State University's (ISU) Katie School of Insurance and Finance together with two Bermudian students will spend three weeks in Bermuda learning about insurance industry from top to bottom.

BFIS is now expanding this programme and with the help of ISU and its donor companies is planning to send two Bermudian students to Chicago for two weeks to learn all about the Chicago insurance market.

Catherine Lapsley, BFIS Executive Director said: "The Katie School approached us five years ago to help them set up the programme and now Bermudian students are also able to take part in this unique opportunity."

These are both structured programmes and the students study all aspects of the industry, from company formation to what an underwriter looks for when deciding whether to underwrite a risk, to CAT Modelling.

This is a six credit course for the ISU students and combines work-shadowing, presentations and meetings and ends with a presentation to BFIS Trustees."

One of last year's students, Bermudian Kyle Smith, a Math graduate is now working at ACE Tempest Re, said: "This was one of the most valuable learning experiences we had, with outstanding networking opportunities."

"We learned about various aspects of the industry, such as Professional Lines D&O, which we had not been exposed to, and gained a solid understanding of the different career paths in insurance."

Mr. Smith said he worked for XL Limited, ACE Limited, the Bermuda Monetary Authority, law firms, and brokerage firms to gain a comprehensive understanding of the Bermuda insurance industry.

Information and application forms can be found on the BFIS website at www.bfis .bm and the deadline for entries is March 1, 2006.

Mrs. Lapsley said students should not be put off from applying for this opportunity by the fact that they may be employed when the intern programmes take place, as BFIS will work with their summer employers to try and make sure they will not lose any pay while they take part in the programme.