Author Archive: Bernews1

Allied World Upgrades Executive ForceField

Allied World Assurance Company Holdings, announced that Allied World Bermuda has upgraded its Executive ForceField® policy to provide enhanced coverage for the protection of directors and officers of public companies. The company said, “This upgraded Side ‘A’ Directors & Officers Excess and Lead Difference-in-Conditions insurance policy... Read more of this article

OBA: PLP Leaders Putting Politics Before Country

[Updated w/PLP response] “The work of the Parliamentary Select Committee on Elections has become another example of PLP leaders putting politics before country,” the One Bermuda Alliance said this evening [Mar 12]. A recently released Parliamentary Select Committee report questioned whether the election of Minister Bob Richards and MP Jeff... Read more of this article

Colorado Collect $3.5M Cannabis Tax In January

The U.S. state of Colorado — which has a population of around 5.1 million — collected $2 million in taxes from newly legalised recreational marijuana businesses in January, the BBC reports. Colorado became the first US state to legalize the commercial sale of cannabis, and stores opened for business on 1 January 2014. In total, 59 marijuana... Read more of this article

Photos & Videos: Butterfield & Vallis Trade Show

The Food Service Division of Butterfield & Vallis hosted a trade show today [Mar 12] at the Fairmont Hamilton Princess, showcasing a variety of foods, wine, equipment and more. The event was opened by Mr. Bill Hanbury, CEO of the Bermuda Tourism Authority along with Karla Lacey-Minors, COO of the Bermuda Tourism Authority. Mr. Hanbury said, “For... Read more of this article

Latvian Launches Appeal In $48M Cocaine Case

A Latvian sailor who was convicted two years ago of possessing almost $50 million worth of cocaine has launched an appeal today [Mar 12]. Janis Zegelis was previously sentenced to 25 years in prison, and his sailboat “Arturs” was confiscated by the Court. When he was sentenced in 2012, Judge Carlisle Greaves said he took into account the... Read more of this article

Butterfield Preparing For Abu Dhabi Triathlon

Bermuda’s Tyler Butterfield is preparing for the 2014 Abu Dhabi International Triathlon, which will take place on Saturday March 15 in the United Arab Emirates. The prestigious event offers some $40,000 in prize money for the first place alone, and Butterfield will compete against some of the best in the world including reigning Olympic Champion... Read more of this article

City Announces “Walkway Of Fame” Honourees

The Corporation of Hamilton announced the first recipients of plaques on the Walkway of Fame, with Stan “Lord Necktie” Seymour, Hilary Soares, Edwin Skinner, Hazel Christopher and Edith & Matilda Crawford set to be honoured. The City said, “The objective is to create a walkway from Front Street along Court Street bringing residents... Read more of this article

PwC Report: Cyber, Economic Crime Is Growing

Some 45% of financial services respondents to PwC’s 2014 Global Economic Crime Survey say they have been victims of economic crime. And 39% of those respondents who reported economic crime during the survey period say they have been victims of cybercrime, as fraudsters increasingly turn to technology as their main crime tool. Around half who have... Read more of this article

BEST Comments On Shipping Channel Study

The Bermuda Environmental Sustainability Taskforce [BEST] said they are “cautiously pleased to hear of the proposed Environmental Impact Assessment [EIA] exercise being conducted in advance of shipping channel alterations.” BEST noted the three stated options, and said that a fourth and legitimate option should be “none of the above”,... Read more of this article

MP Apologises For ‘Unparliamentary Language”

MP Sylvan Richards apologised today [Mar 12] in the House of Assembly for using “unparliamentary language,” which according to the exchange appeared to have been the word “scumbuckets.” It occurred during Monday’s [Mar 10] session, with Mr. Richards appearing to call out something while the Opposition was speaking. Original... Read more of this article

ILS, Alternative Reinsurance Capital Set To Grow

Insurance Linked Securities [ILS] and alternative reinsurance capital could grow by $100 million in the next five years, according to Aon Benfield, raising the total value of the market to $144 billion. The Bermuda Business Development Agency [BDA] said, “Bermuda is paying close attention to the needs of this market as 70 Bermuda-based industry... Read more of this article

Swedish Pair Back On Land After Boat Rescue

Two Swedish nationals are safely on land in Delaware after being rescued at sea about 100 nautical miles off Bermuda a few days ago. The Bermuda Maritime Operations Centre previously said that the sailing vessel “Bull” — en-route to St Georges from Florida — got into difficulty around 100 nautical miles to the south-west of Bermuda. The... Read more of this article