Bermuda gets some attention at major US insurance conference
Bermuda made its presence felt at the largest gathering of property casualty insurance professionals in North America.Almost 1,000 senior executives attending the Annual Meeting of the Property Casualty Insurers Association of America (PCIAA) in New Orleans were at a breakfast sponsored by the Bermuda Insurance Development Council (IDC).Retired US Marine Corps General Peter Pace, the former chairman of the Joint Chiefs of Staff, was the keynote speaker at the Monday morning event.General Pace provided insights into current threats to the US national security, both domestic and international.The IDC also invited Bradley Kading, president of the Association of Bermuda Insurers and Reinsurers (ABIR), to explain in detail the important role played by Bermuda in the US insurance industry.On Tuesday afternoon, RenRe CEO Neill Currie was among the panellists discussing the reinsurance market.“There are probably more than 50 Bermuda market executives attending this event representing more than 20 leading Bermuda companies directly in the insurance and reinsurance fields,” said David Fox, the IDC’s director, information services.“The support they provide to US interests is valued by US markets. The PCIAA annually hosts a meeting in which the rank and file of the US insurance industry consider important aspects of American life affecting their nation and their business.“It is very much a learning experience from those holding first hand knowledge.”Monday’s session also featured Dr Donald Kohn, former vice-chairman of the Federal Reserve System, who put the current economic recession into context and offered insight on monetary, fiscal and regulatory policies that would aid in building a prosperous future.The session closed with a panel discussion about the investment environment with industry leaders moderated by Fortune Magazine’s Nina Easton.