Symposium as a major event on the industry's calendar, according to the publisher of Business Insurance magazine, Mrs. Kathryn McIntyre.

"The feedback we've had from people who have seen the brochure and the line-up of speakers is very enthusiastic,'' said Mrs. McIntyre, whose magazine is helping to sponsor the Symposium.

"People in the industry are interested in this conference. The best and the brightest people in insurance are coming down to take part.'' Bermuda has a sterling reputation among American businessmen who know what the Island has to offer and recognise its attributes as a business centre, she said.

Outspoken comments in the past from people like California Insurance Commissioner Mr. John Garamendi, who once referred to "the unregulated waters of Bermuda'', are not shared by the majority of people, said Mrs. McIntyre.

"John Garamendi does not represent the typical American commercial insurance buyer,'' she added. "We do not worry about what he says.

"Sophisticated corporate risk managers and financial executives appreciate Bermuda for its leading role in the alternative risk transfer market. There's no doubt about that.'' Doubts in some quarters in the United States about the level of regulation that exists in Bermuda are not necessarily fair, she said.

"Unscrupulous operators slip through the regulatory nets in the US as well as Bermuda,'' she said. "It cannot be helped and is bound to happen from time to time.

"There's no doubt that Bermuda is considered the prime captive domicile because of its longevity and sheer size.'' She added: "What's truly attracting people to this conference is its quality, the subject matter and the speakers.

"Business Insurance is certainly delighted to be the official publication of the conference since we have been reporting on captive insurance company business in Bermuda since the mid-1970s. We will be well represented at the conference.'' The four-day Bermuda Insurance Symposium, which is being held at Marriott's Castle Harbour Resort, kicks off next Tuesday and ends on Friday.

Leading foreign insurers taking part include Mr. Steven Foster, president of the National Association of Insurance Commissioners; Mr. Stephen Wilder, of Walt Disney; Mr. Anthony Benson, of Guinness; Mr. Walter Mather, of Gillette; and Mr. Isao Kusuhara, managing director of Dai Tokyo.

Three former Business Insurance Risk Managers of the Year will also participate in the conference.

Local participants include Mr. Malcolm Butterfield, Registrar of Companies; Mr. Robert Mulderig, president of Mutual Risk Management; Mr. Brian Hall, chairman of Johnson & Higgins (Bermuda); Mr. David Ezekiel, president and managing director of International Advisory Services; Mr. Walter Scott, chairman of ACE; and Mr. Richard Spurling, head of the corporate department at Appleby, Spurling & Kempe.

Eight seminars are being held on the following topics: Risk Managers -- Financing the Working Layer; Insuring Catastrophic Losses; Captive Innovations: Corporate structures and Reinsurance positions Fronting -- Is it a Dirty Word? The Rent-a-Captive Solution: Why own when you can rent? Alternative Dispute Resolution in the ART Market Financial Reinsurance: Is is ART of Forgery? How will the ART market respond to the problems of the 21st Century? Guest speakers include former Washington Redskins quarterback Mr. Joe Theismann and Mr. Peter Huber, a well-known lawyer, author and speaker on the notorious American legal system.

Although the conference's trade show begins on Tuesday, the Symposium begins in earnest on Wednesday when Premier the Hon. Sir John Swan and Finance Minister the Hon. David Saul will both address delegates before the first seminar takes place.