The Bermuda Monetary Authority was given greater powers to seek information from insurance companies yesterday when new legislation was passed without opposition in the Senate.

The Insurance Amendment Act 2002 was passed among praise for the business and financial community, who have worked together to bring about the improvements to their sector.

The amendments are in line with recommendations from a KPMG review to ensure that Bermuda, as an offshore jurisdiction, is in line with international standards.

The Senate also gave consideration to the draft regulations entitled The Government Fees Amendment (No 4) Regulations 2002, and the draft rules entitled The Court Fees and Expenses Amendment Rules 2002.

The changes to the court fees act means lawyers will get a rise in fees for the first time in 30 years.

Their fees for a half-hour trial appearance will jump from $20 to $50, and their fees for taking instruction to sue or issue a counter-claim will go up from $20 to $100.