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Opposing sides in the ongoing dispute over Electric Mutual Liability Insurance Co. (EMLICO) are at odds over the meaning of last week's Supreme Court ruling over costs. Puisne Judge Richard Ground ruled that Kemper Reinsurance must reimburse the esta...

reinsurer which alleged fraud against General Electric Co. (GE) and their insurer, Bermuda-based Electric Mutual Liability Insurance Co. (EMLICO), must pay legal costs for GE and EMLICO. That is the legal opinion of manager of Appleby, Spurling & Kem...

Tough, new legislation to improve controls against money-laundering will be finalised through a joint effort of the Ministry of Finance, the Attorney General, the Ministry of Labour, Home Affairs and Public Safety, together with the Bermuda Monetary ...

Government analysts predict further growth in Bermuda's economy during the year, with nominal growth in gross domestic product (GDP) projected at five percent. That was the assessment of the 1996 Economic Review, a document prepared annually by the M...

On the eve of the presentation of a new Government budget, just-released figures for the fiscal year ending nearly three years ago show a government need in future years to raise taxes to pay for significant, unfunded expenses. The latest financial s...

Contained in the President Clinton's $1.69-trillion budget are specific provisions that may impact Bermuda's captive insurance industry. Provisions altering the definition of insurance by requiring the writing of more third party business, first rais...

Lawyers yesterday differed over the importance of a UK Court of Appeal judgement handed down on Tuesday and the implications for the dispute concerning the collapse of Bermuda-domiciled Electric Mutual Liability Insurance Company (EMLICO). The group ...

to other industries, Bermuda International Business Association (BIBA) companies responded yesterday that they too are concerned about the current tax structure and want it changed. The criticism intensified with an advertisement in yesterday's newsp...

Bermuda's eight major hotels, due to announce their combined financial results next week, are expected to report disappointing results following a lacklustre 1996 tourism season. And the hoteliers could use the figures to lobby Finanace Minister Gran...

on franchises can only be read in tandem with the Companies Act, and that if placed in the proper context, contentious wording of a key provision takes on a completely different meaning than when read on its own. The first provision of this policy st...