Performing daredevil rescue missions on the high seas in the eye of a storm may not seem to have much in common with Bermuda's captive industry on the face of it.

But Larry Brudnicki, coast guard captain and key note speaker at the Bermuda Captive Conference's luncheon held at The Fairmont Southampton yesterday, explained how both require risk management to be successful.

Mr. Brudnicki, who was the coast guard captain in The Perfect Storm Rescue, which inspired a New York Times best-seller list book and blockbuster film, told his story and regaled his experiences of making two dramatic rescues during the worst weather in the Atlantic Ocean in more than 100 years.

He went on to give delegates a first-hand account of how he had to make life and death decisions, while motivating his crew to perform their best in conditions beyond imagination.

Mr. Brudnicki launched his second career as a co-author of the book 'The Team-building Path' and has already started working on his next book.

He set the scene by recounting that once every 100 years a storm happens that is so big and destructive compared to the rest that it is called the 'Storm of the Century', which present a crisis for some people and an opportunity for others, but, above all, those who experience it will remember it for a lifetime.

He opened the presentation by asking whether the audience had ever been in a situation which is beyond their control. "If you say yes, then you have an idea of what it was like to be in a difficult situation," he said.

Mr. Brudnicki related the scenario to the business world where it was about finding solutions that strike a balance between risk and cost versus losing a valuable client.

In late October 1991 three separate storm systems collided off the New England coast, including a tropical storm named Grace, which developed from a low front near Bermuda and started moving north, a cold front associated with a high-pressure system which was being propelled Southeast from Canada by the jet stream, and a low-pressure system which stalled near Sable Island, Nova Scotia in the direct path of the Canadian high and the Bermuda low. The resulting combination formed an 'eye' off the coast of New England, spanning 1,500 miles, and moved in retrograde motion from east to west.

Because the storm was so big, ferocious and destructive that it could not have been any worse, one meteorologist described it as "The Perfect Storm" to Sebastian Junger when he was carrying out research for his book.

The first rescue involved attempting to save the crew of the fishing boat Andrea Gail, which became lost 575 miles out at sea while fishing for swordfish during severe weather conditions.

The second mission saw the US Coast Guard Cutter Tamaroa engaged in a daring rescue of the sailboat Satori's crew, with the pararescue jumpers themselves becoming caught in the storm and the loss of Technical Sergeant Alden (Rick) Smith from a New York Air National Guard HH-60 helicopter.

Mr. Brudnicki was forced to make crucial decisions at every turn, weighing up the risks and benefits associated with each choice, from setting a course for the vessel to carrying out the actual rescue, taking into account a number of factors, such as time, day and night, weather conditions, sea and foremost the safety of his ship, crew, helicopter support and the lives of those on board the Andrea Gail.

He said the three most popular questions he gets asked were: "How bad was the wind, how big were those waves and what were the weather like", to which he replied: "The wind was really fast, the waves were really big and the weather was almost beyond imagination."

"You cannot get into this situation hoping for the best, you have to understand what are the risks and then have a plan to undertake them," he said.

"There are going to be times when you have to make a decision that you know is right, but you do not want to make that decision.

"It is about people just like you who found themselves in a situation they could not control, but the crew assessed the risks, they made difficult decisions when they did not like the options and they worked extremely well in a team."

Mr. Brudnicki made an analogy with the Island's captive sector, saying it was key for companies to conduct a risk assessment, find creative solutions to the issues and provide the best quality service to their clients.

He concluded that tough times separated the good companies from the great ones and, while risk could never been eliminated altogether, it could be mitigated, and give decision-makers the confidence to go forward with their plans even in the most difficult situations.