RIMS Convention & Exhibition In High Gear
The 50th Annual Risk and Insurance Management Society [RIMS] Convention & Exhibition under the umbrella, “50 Years Making Connections” began in earnest on Monday [Apr.16] with registrants from across the globe making their way to the convention floor.
In addition to hundreds of exhibitors, numerous sessions offered at RIMS included, Excellence in Risk Management; Healthcare; Transportation; Combating Fraud-A Plan; Energy Resources, Transportation and Construction just to name a few.
Visit with RIMS executives
A statement issued said, “Discussing both the challenges and positive outlook for the market, the Premier focused on how Bermuda was rethinking and addressing risk in the short and long terms.
“Bermuda continues to be seen as a powerhouse in the Captive business, however, the opportunity to reinvigorate and sustain the business through a rethink that engendered innovation was seen to be a clear way forward.”
“In talking with the industry leaders, they spoke about the importance of innovation and quality. Our partners say that they are comfortable, satisfied and committed to Bermuda. The distinguishing features for them are our sound regulatory framework and speed to market,” the Premier said.
Photo of RIMS Bermuda delegation
“The Bermuda story is still touted across the various sectors of international business and in line with that story Bermuda is still very much open for business.
However, she underscored that there were many jurisdictions competing for business and to remain relevant, it was imperative that Bermuda met the challenge to differentiate itself in order to keep current partners coming back and to attract new business.
“Bermuda is seen to be a magnet and we want to ensure that we raise the bar to continue to attract the best of the industry to our shores,” she said.
Visit with Lloyds representative
“It is very important that we work to protect and grow that sector. Complacency cannot be our mantra. We must maintain a receptive balance so that we can continue to be competitive while still recognizing the premium that you pay, and we pay for quality and reputation,” she emphasized.“The Government must play an active role to make sure that we do whatever we can to facilitate growth.”
Premier Cox joined in the traditional tour of the RIMS Exhibition Hall, beginning with the Bermuda Booth. A statement added, “It should be noted, that as a tribute to its high standing in the industry, Bermuda is the only jurisdiction that is extended a walk-about each year at RIMS. Such an acknowledgement affords an invaluable opportunity to build and strengthen relationships with industry partners.”
Photo of Bermuda booth
“We will continue to demonstrate our willingness, welcoming nature and our support to the international business sector. Bermuda is setting the pace, however we cannot just rest on our laurels, so we need to find that ‘Bermuda plus’ factor. This is not just legislation; it’s a continued attitudinal shift which demonstrates that we recognise the value that the insurance sector adds to Bermuda. We want to ensure that we continue to move forward in partnership with them.”
Premier Cox closed out the formal aspects of the RIMS visit last night[Apr.17] by hosting the annual Bermuda Reception which sees industry professionals in attendance.
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