While Bermuda has done a good job of marketing itself at one of the largest annual gatherings of insurance industry clients, the effort needs to be refreshed a bit according to at least one participant here at the Risk and Insurance Management Society, Inc. (RIMS) conference.

About 9,000 risk managers attend the annual conference which is being held in Dallas, Texas this year. The conference moves to San Francisco next year.

Bermuda, through the Insurance Advisory Committee, spends about $140,000 on marketing at the conference. Some of the money is spent on a booth resembling a Bermuda cottage. Most is spent on a party which was held last night at the Dallas Art Museum for about 500 conference participants.

Malcolm Butterfield, associate partner at accounting firm KPMG in Bermuda said Bermuda's RIMS effort, while good, needs a change in strategy. He said other jurisdictions like the Cayman Islands, Barbados, the British Virgin Island and Turks and Caicos have followed Bermuda's example and are also splashing out.

He suggested a more focused attack at marketing should be considered. The reception could be slimmed down to only include the heads of firms already doing business on the island or who could become potential clients. "I think that it's time for Bermuda to brainstorm about whether we are getting the best bang for our buck,'' he said yesterday at the conference. "The money is more than enough but we are not using it to the best of our ability. The Bermuda reception is a great event but we need to focus on the real producers of business and bring them to the table. We need quality not quantity. We are running the risk of becoming complacent. It's bordering on becoming a bit stale.'' He said organisers should look at reviewing the marketing effort for next year and he will be willing to contribute to that effort.

"We need to directly tell the CEOs that Bermuda is the best resting place for their risk management business,'' he said.

After visiting the Bermuda booth at the convention hall and looking at what other jurisdictions have here Premier Jennifer Smith also called for a more innovative approach to marketing the Island next year.

She tempered her remarks by saying that she appreciated all the contributions individuals and companies were making to the Bermuda effort. She suggested that perhaps Bermuda art could be brought down for the next conference and displayed so people could get a fully picture of the Island.

"I was impressed by the booth,'' she said. "But having looked around at other exhibits I think that we need something a bit more up to date. We can be more innovative.'' BUSINESS BUC