The first major conference to be held since Hurricane Fabian swept through the Island is to be opened today by Premier Alex Scott.

After many conferences being cancelled in the wake of the hurricane due to the closure of the Fairmont Southampton and Sonesta Beach, the organisers of Hawksmere 17th International Reinsurance Congress were determined to go ahead as normal.

The event is being held at the Hamilton Princess and many of the delegates have had to be found alternative accommodation as they were booked into the now closed hotels.

"Over the past 17 years, the International Reinsurance Congress has watched over, commented upon and even forecast some remarkable changes in the reinsurance industry," said organisers. "It has watched the fall of some of the mightiest names and has seen the amazing growth of new entrants to the market.''

The three-day event starts with lunch and will be opened by chair Ray Medeiros, partner at PricewaterhouseCoopers who will then introduce the Premier.

Keynote speaker former US Senator George Mitchell is then slated to speak for 45 minutes, followed by a panel on tort reform, which will take in asbestos, workers compensation and medical malpractice.

In this event Hawksmere and PricewaterhouseCoopers have developed a programme organisers say will focus on current critical issues for both buyers and sellers of reinsurance in the light of market conditions that have changed so dramatically during the past two years.

"Bermuda remains the incubator of the New World Market and therefore the Congress destination," said organisers.

Current developments in exit strategies including outsourced and in-house run-offs are on the agenda for day two as is legal developments and the implications of recent leading cases in the world of reinsurance.

In the afternoon this is followed by a two part workshop on cutting-edge issues in American and English reinsurance arbitration and reinsurance collections.

And on the final day, Donald Kramer, vice chairman of ACE Ltd., Bermuda, will give his keynote address. This is followed by a session about where the reinsurance industry is heading which includes a discussion on the future of Lloyds and the new players in the Bermuda market.

The final session is on directors and officers liabilities and includes the major issues and the effect of Sarbanes Oxley.