Bermuda will again use one of the largest insurance conferences in the world to fly Bermuda's tourism flag and promote international business in the California city of San Diego.

Officials representing the Bermuda International Business Association (BIBA) and the Department of Tourism will journey to the 36th Annual RIMS (Risk & Insurance Management Society, Inc.) Conference, which begins on Sunday at the San Diego Convention Center.

During a press conference yesterday, chairman of Bermuda's RIMS committee, Robin Spencer-Arscott said that more than a record 130 people will leave Bermuda for the RIMS Conference, including Premier Pamela Gordon, Finance Minister Grant Gibbons and Tourism Minister David Dodwell.

Chairman of the marketing committee of the Insurance Advisory Committee, Roger Gillett, said the event gave the insurance industry a high-profile international forum in which to meet up with existing customers, network with new potential clients and hear about the latest developments in risk management.

Mr. Gillett said, "But unlike prior RIMS conferences, the 1998 event in San Diego is taking place amid a period of unprecedented change in two key areas of business.

"The first is in the way risk is perceived and, ultimately, managed. The second is in how our industry is being affected by consolidation activity.'' Director of Tourism Gary Phillips said, "We recognised two years ago that interest among the conference delegates in Bermuda's tourism product was significant, as an adjunct to the primary enquiries regarding our superior insurance services.

"The importance of this conference within the insurance calendar, and the stature of the companies represented and personnel present, provides an excellent opportunity to promote Bermuda as a corporate meeting and vacation destination, and is consistent with our positioning of the Island as an upscale resort.'' Some eight to nine per cent of Bermuda's tourism business comes from California. The piggy-backing of Tourism's offering demonstrates the closer, and growing, level of cooperation between tourism and international business.

BIBA chairman Glenn Titterton discussed the work being done by BIBA representatives at the Bermuda booth of the exhibition hall and at various functions that lend support to Bermuda's insurance and reinsurance products.

BIBA will again host a Bermuda Breakfast Briefing for about 100 professionals from San Diego's legal, banking, accounting and investment management communities.

Mr. Titterton said, "The briefing allows us to promote Bermuda's international business industry as a whole to key contacts and potential clients. Our speakers will be Dr. the Honourable Grant Gibbons, Minister of Finance and Mr. William Woods, CEO of the Bermuda Stock Exchange, who will cover how Bermuda is poised to take advantage of technology-led business opportunities that will take us into the 21st century.

"Senior reporters and editors from key trade media will also be attending the breakfast briefing, for whom we have arranged interviews with representatives from the industry and Government, including the Premier.'' Meanwhile Mr. Gillett pointed out that Bermuda's insurance customers are increasingly looking beyond traditional property and casualty risks. They are evaluating "enterprise risk'', a more holistic view which includes event risks, operational risks and financial risks, such as those represented by interest rate and commodity exposures.

He said, "The challenge facing the Bermuda insurance industry at RIMS 98 is to show that we are maintaining our reputation as an innovative centre for insurance and other financial solutions while managing the consolidation process in an efficient and orderly fashion.

"It is important that we make sure that our generic message is that the Bermuda market, now more than ever, has the creativity, professional expertise and unencumbered capital that have differentiated it from other competing insurance centres for over a decade.

"The recent consolidations will bring us the added benefits of scale, benefits that will be enjoyed by policyholders and shareholders alike.'' The Bermuda market's presence at the RIMS conference is a major part of the 1998 marketing effort of the IAC's marketing committee. But Bermuda is also working with the RIMS society to mount a series of educational seminars later this year for risk managers in major regional centres throughout the US.

SELLING BERMUDA -- Bermuda will again enjoy a multi-faceted market scheme at the 36th Annual RIMS Conference, starting on Sunday. At a press conference yesterday, representatives of the efforts discussed the strategy. Pictured are (from left) BIBA chairman Glenn Titterton, Bermuda RIMS committee chairman Robin Spencer-Arscott, Insurance Advisory Committee marketing committee chairman Roger Gillett and Director of Tourism Gary Phillips.

BUSINESS BUC