Premier Attends RIMS Conference In Philadelphia
The Premier and Minister of Finance, Paula Cox is currently attending the 48th Annual Risk and Insurance Management Society [RIMS] Conference & Exhibition in Philadelphia, Pennsylvania.
Attendees from more than 50 countries including multinational corporations and international organizations will come together in Philadelphia at RIMS 2012 to learn how to improve their risk programmes and operate more efficiently and effectively in today’s global marketplace.
The industry’s premier conference — with nearly 10,000 leading risk professionals expected to attend — is scheduled for April 15 to 19, 2012. Bermuda’s representatives include: the Ministry of Finance, HSBC Bank Bermuda, the Bermuda Monetary Authority, Business Bermuda, the Association of Bermuda International Companies and the Association of Bermuda Insurers and Reinsurers.
RIMS industry professionals work in constantly evolving markets and this conference provides an opportunity to discuss techniques and best practices that advance the understanding of risk management, and help maneuver risk programmes past current and future obstacles. A full line up of the convention activities cover all aspects of these efforts.
Premier Cox said, “Bermuda is universally acknowledged as a premier financial services jurisdiction. We have an established reputation for economic, political and social stability and are committed to prudent long term financial planning, but we cannot rest on our laurels and take our success for granted. So attendance and a strong presence at RIMS affirms our commitment, and our unwavering support, to a key sector of our economy.
“The Bermuda Market companies that provide these important insurance products are global leaders. However, your Government’s support of this blue-chip industry helps provide thousands of Bermuda jobs and other benefits that help maintain our way of life. The RIMS Conference – the largest North American conference of risk professionals – offers a chance to interact directly with current and prospective clients.
“We need to keep telling and re-telling our story about the success of the Bermuda market. We also need to ensure that we continue to reinforce that we are open to and open for business and that there continues to be opportunities to grow this key sector in a sound regulatory and reputable environment. Bermuda is a success story and we do not intend to hide our light under a bushel.”
One of the highlights of each year’s conference is the traditional Convention Exhibition walk-about. As a leading financial jurisdiction Bermuda through its Premier is the only country invited in an official capacity to visit booths on the convention floor, receive acknowledgement by key members of the industry and to exchange ideas and bring greetings from Bermuda. The first stop on the walk is a visit to the Bermuda Booth.
Later that evening Premier Cox will host the Bermuda Reception; a RIMS staple that has always managed to deliver a huge attendance.
This year, what essentially is a “trade show” element with a focus on the various specialties of the Bermuda market; [Casualty, Professional Lines, Property, Captives, Banking, Legal Services, Regulation and more], has been added to the reception.
This will visually demonstrate the breadth and depth of the Bermuda market and by highlighting the specialties available, it should serve to stimulate added conversation on doing business on our shores.
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All I know is that this is the second worse premier we’ve ever had!
I agree with you cancer , she is the worst premier we have ever had !!! she does not have any leadership qualities at all …..how the hell did she get this position ?
In answer to your question, she became Premier by doing DREB’s bidding.
If this premier was working for Donald Trump on the apprentice she would have been fired long time ago.
Whats the problem with her being at RIMS? Seems ok to me…
Finally Left, you can’t be expecting “Cancer” to speak with any hint of reason. (s)he is a paid blogger for the OBA and only writes negatives about the PLP on here.
If the PLP cured “Cancer” (s)he’d complain.
There is no reason for a govt leader to attend these types of conferences. Only relevant industry heads (at their expense) and Business Bermuda (which the taxpaper supports) need to go. Upon their return they should simply report back to the Premier. How many govt employees went tagging along with the Premier??? Do you honestly believe 50 heads of state attended the RIMS conference??
In fairness the Premier and Minister of Finance have been attending RIMS for as long as I’ve been in the business – the first RIMS I ever attended was well over 20 years ago and the UBP were there – it’s not something that started with the PLP.
When the UBP did it, it was ALSO a waste of money for them to attend.
Another trip to promote Bermuda! I wonder if when the OBA says cut the travel budget they would cut travel to RIMS? They said they would cut travel, i wonder what other necessary expenses they would cut.
I hope OBA does cut this unnecessary free trip. RIMS was/is designed for business leaders, not govt heads of state! These conferences are just govt perks, and a total waste of taxpayers money. Hundreds of Bermuda families have to make the choices between medication and food, meanwhile thousands on end is spent rubbing shoulders and making small talk with business elite overseas. That’s all it is. PLP is suppose to be a LABOUR party. So get out of your planes and hotels and start supporting the little guy!
yup you do not understand in order to attract investment to bermuda you have to be at the rims and me first hand the people you would like to set up shop here what you think leaders from cayman are not there
Jack, try not to debate with the idiots on here, they will bring you down to their level and then beat you with experience.
Huh “beat you with experience”………………………………
LOL trained martial bloggers?????!!!!!!!!!………..
What about the investors we HAD? The ones before Burch went on his hate tip…remember them? If the reason you stated for her attendance is true, seems a little counter-productive to me, but let me guess I’m a “paid oba blogger”?
Plp: running in place since 1998
What’s the point of her going? Is she going to tell all the Insurance/captive customers – “hey come to Bermuda and we’ll treat you like crap, blame all our island problems on you and then kick you off the island once your work permit is expired several years later”
How about she makes the current insurance/reinsurance entities on the island feel welcome and ease up restictions so we can grow our economy again.
“Validus is proud of its excellent Bermudian employee base, and continues to see a bright future for International Business on the Island.” Ed Noonan, Chairman and CEO of Validus Holdings, Ltd.
Guess the people that matter don’t agree with you.
They have moved all the high paying IT jobs off the island.Like all of the other IB companies.
You must understand that only shell companies will remain with a few locals still employed.Three thousand expats have left and most if not all will be gone in two years.
LMAO,
Funny how i know a few Bermudians in IT at Validus who are doing very well. Sure you got the right company, or are you just making things up.
3000 expats left, thats all, on another site one of your anti-plp bloggers was saying 7000. Y’all need to at least get numbers correct.
Funny does that go for your pro-plp anti- Bermudain blogers too…
LOL 8,000 new residence oh wait 4,000 eh… 1,700 oh 1,500 new residence
Good comment. There is no point in her going. Do you think there are 50 heads of state there?
How about she ask RIMS to pay for that $4.1 million blunder of a construction project up at Dockyard on those cruise ship barriers that are rubbish and are going to be removed. That pisses me off to the core and you and I (the taxpayers) are paying for this crap!!!!!!!
I think we should insist that Dennis repair it at his cost, not RIMS! Jeebus!!
You are really some closed minded people. I am currently as we speak at RIMs and Bermuda is doing a wonderful job of promoting itself to bring more business to the island. Out of all the booths that I went to, Bermuda’s was the busiest. Yes Bermuda must slacken their immigration laws, and they are beginning to do so. If you people were only open-minded enough to realize that we need the promotion to bring you idiots more/better jobs (which if you didn’t realize are lessening) then you would understand why things like this need to be done. Read a paper and educate yourselves.
I am proud to be a Bermudian today at RIMs.
You have hit the nail on the head. Bermuda does a wonderful job of promoting itsef, but this has always been due to the companies, not politicians. The (Re)Insurance industry remains a success story, largely because there has never been a Minister to interfere, unlike Tourism. Regrettably it now seems that we have a Minister (Wayne Furbert now in China) that wants to get involved. Bad move.
So when the Industry asks the Premier & Minister of Finance to attend, should she just say no? I can hear the OBA whining from that one already. “PLP aren’t serious about promoting Bermuda”
Sometimes you can’t win!
I don’t think the Industry did ask the Premier to go. And even if they did, she’s suppose to be like a cog in the wheel and just do as she’s asked. She’s suppose to understand that Bermuda needs to stop wasting money and come up with a plan to save our island.
Fair dues tho, her going to this as Finance minister is part of that plan.
I’m all for ministers travellnig when duty calls, what i consider as wasting travel money is when entourages of 5+ people are all flying business+ class. THAT is wasting money… a minister and a couple colleagues is necessary at times.
@voice of reason – we certaInly wouldn’t have to worry about the PLP curing cancer or any other decease that’s for sure! PLP can’t even find a cure for this economy that they ruined thru their flip flop policies! You need to leave politics altogether. PLP please leave politics !
I think the Government should have sent Bob Richards, Michael Fahy (pronouced Fay) and Ray Charlton, Pastor Syl and Pat Ferguson to the RIMS Conference. Those five would have represented Bermuda well at the international conference, after all they’re all experienced in international relations.
Lavern for once I agree with you !!!!!! Bob Richards,Pat Ferguson . Michael Fahy and mnd Ray Charlton….these people care about Bermudians !!! Paula needs to resign……….and the sooner the better.
I beg to differ, the only person worthy of representing Bermuda is The Defender/8 votes.
She is a brilliant orator, has a charming personality,is very people friendly, and above all,knows everything.
She can save the taxpayer sorely needed funds, as only 1 ticket would be required.
Besides, she can explain to all those foreign businessmen how Bermudians love expats.
I htink that was a shot at your integrity fella!
Actually the great defender only thinks she knows everything. It was miss know-it-all who came on the radio so sure that the insurance company was going to pay for the damage at the ships pier in dockyard. Now come to find out the “peoples money” is going to have to pay for yet another blunder by this flip flop dont-know-what-their-doing PLP money wasting government…
Meh….I’m ambivalent if she attends. She doesn’t influence IB, specifically Reinsurance, and could probably spend her time focusing on issues here. That said, if she were to announce relaxed immigration laws, home ownership laws and reduced red tape…..it would be worth while. Almost worth sitting through one of her excrutiatingly painful speeches.
Never happen though, she needs to ask permission from DREB, Burgess et al…first.
have attended many RIMS conferences over the years I agree that Bermuda has always done a wonderful job promoting the island at the event…..many people go to the Bermuda booth year after year to get the “Bermuda Bag” that is given away…The tradition of the Premier of Bermuda attending goes back to Jennifer Smith when she had The Colonel in tow as her attache and would make her swing thru the convention hall and that tradition continues each year with the Bermuda entourage making the symbolic visit to the convention…..one year a large white stretch limo pulled up in front of the conference and Dame Jenifer exited with the Colonel and someone remarked who is that? the reply was the Premier of Bermuda and that was followed by “where is Bermuda”? that said there are very very few Reinsurance people who ever attend RIMS as it is primarily and Insurance conference..she will now be attending the Monte Carlo Rendezvous in September.
Actually, the premiers attendance to RIMS dates back farther than that.
On this I would have to disagree with the naysayers. RIMS is a wonderful opportunity for the Premier and who she takes with her to meet and greet in a face to face manner and either establish new connections or re-establish old ones.
If we were a larger jurisdiction I would hesitate to suggest the country’s leader attending, but we’re not. Given the most recent history with IB, the government needs to show a friendly approachable face, and this is a good venue in which to do it.
I wish her well.
I see nothing wrong here either. This is what Bermuda is supposed to be doing. I do not classify this as unnecessary travel this is money well spent. We could argue about how many people go what hotel and such but at the end of it Bermuda needs to stay relevant to IB.
LOL
From the lips of Premier Cox: “We have an established reputation for economic, political and social stability….” That statement is patently untrue and everyone but you and your cronies knows it! Bermuda’s economy is in the crapper, the political scene is in shambles and the social fabric of the country is being torn to shreds.
I love the picture of the sand castle though…a fitting analogy for Bermuda–looks impressive on the surface but will likely collapse with the next big wave or wind storm.
Having blown off that bit of steam, I do think the Bermuda government should be represented at RIMS as long as it’s invited…to refuse to attend would send the wrong message. However, I don’t think it is prudent to send the Premier when she should be on the Island attending to the business of running the country.
My thing is this–the premier is the finance minister, and she has a background in IB. Thus, I would deem her qualified to attend the conference. Actually, I think she *should* be attending it, and her absence would be rather suspect.
As I’ve said many times before, I’m no fan of Ms. Cox. However, when she does something right (as she is doing here), I will commend her for it. Bermuda needs a strong representation, and having its finance minister (let’s ignore that she’s premier for this case) seems like a no-brainer.
Honestly, you guys love to find fault when there is none. I can just bet that the majority of you would lambaste Ms. Cox both were she to attend and were she not to attend!
Actually, it is true. those words she said: “We have an established reputation for economic, political and social stability….” are actually past tense and speak of Bermuda over a long period of time, thus making it true. Our economy is seen amoungst the world as reputable. Only Bermudians who know nothing of the outside world would lean to that sort of thinking that we are not reputable.
Wheeeeee! More free lunches!