Hashtag: #ABIR
ABIR Warning About Florida’s Inaction
Bradley Kading, president and executive director of the Association of Bermuda Insurers and Reinsurers [ABIR], bluntly told members of the Chartered Property Casualty Underwriters Society [CPCU Society] that Florida policymakers have put taxpayers at risk by not reforming the Florida Hurricane Catastrophe ”Cat” Fund or the Citizen’s Property Insurance... Read more of this article
Think Tank: ‘Onshoring’ Reinsurance
The Washington DC office of the Heartland Institute think tank yesterday [Mar.13] hosted a major symposium on “onshoring” catastrophe reinsurance reserves now held in off-shore business domiciles including Bermuda. The Illinois-based Heartland Institute has been part of ongoing efforts to transform the District of Columbia into “Bermuda... Read more of this article
Tornadoes To Impact Bermuda Firms
A series of tornadoes and storms which recently tore through parts of the US Midwest and South causing between $1 billion and $2 billion in insured losses will take a toll on the 2012 bottom lines of Bermuda catastrophe re/insurers According to American catastrophe modelling firm Eqecat: ”An unusually strong extra-tropical cyclone spawning a... Read more of this article
‘Strenuous Objection’ To Obama Proposal
Revived measures in President Obama’s 2013 budget to forbid tax deductions for reinsurance premiums ceded to foreign-based affiliates including those operating in Bermuda has once again divided American industry groups. Heavyweight domestic US insurers such as W.R. Berkley and Liberty Mutual are pleased with the proposal but other trade groups... Read more of this article
ABIR On Global Warming
[Updated w/correction] The Association of Bermuda Insurers & Reinsurers [ABIR] and a subsidiary of the Hamilton-based Renaissance Re were among the insurers recently disclosed as supporting an American think tank which has as one of its programs an effort discredit the theory of man-made global warming. ABIR noted its support is for a separate... Read more of this article
Brazil ‘Protectionism’ Could Hurt Economy
Brazil’s booming economy could be severely affected if a catastrophe occurs due to “protectionist” reinsurance regulation, industry trade groups including the Association of Bermuda Insurers & Reinsurers [ABIR] have warned. In a statement released, earlier this month, representatives from ABIR, the European insurance and reinsurance federation... Read more of this article
ABIR Targets Protectionist Policies
The Association of Bermuda Insurers & Reinsurers is warning that protectionist policies by governments on global reinsurers will ultimately backfire because of the important role global risk distribution via reinsurance plays, industry journal “Property Casualty 360″ reported yesterday [Jan.17]. Citing a recent ABIR statement on Brazil’s protectionist... Read more of this article
ABIR: Florida Insurance Reform
The Association of Bermuda Insurers & Reinsurers [ABIR] has weighed in on Florida’s ongoing debate about reforming the state-run Citizens Property Insurance Corporation and the Florida Hurricane Catastrophe Fund. In a recent letter to the Gainesville “Sun” newspaper, ABIR president Bradley Kading [pictured] urged Floridians to... Read more of this article
Industry Demonstrated ‘Resilience’
Despite paying out billions of dollars in natural catastrophe losses in 2011, the property/casualty insurance industry continues to demonstrate its financial stability and resilience said chief executive officers participating in a panel discussion at the 16th annual Property/Casualty Joint Industry Forum co-sponsored by the Association of Bermuda Insurers... Read more of this article
ABIR Slams Brazil’s ‘Protectionism’
A coalition of reinsurance trade groups including the Association of Bermuda Insurers & Reinsurers [ABIR] today [Jan.13] pointed to the record 2011 global natural disaster insured catastrophe losses as a warning sign as to why protectionist reinsurance regulation will backfire in jurisdictions which try to impose limits on global risk distribution... Read more of this article
Industry Is In ‘Fairly Good State’
Co-sponsored by the Association of Bermuda Insurers & Reinsurers [ABIR], the annual Property/Casualty Insurance Joint Industry Forum convened in New York yesterday [Jan.10] to assess the state of the industry and prognosticate about the possibilities and probabilities for the months ahead. Prior to the start of a panel discussion he was participating... Read more of this article
US Tax Expert Dismisses ABIR Claims
An expert on American tax law says arguments made by the Association of Bermuda Insurers & Reinsurers [ABIR] and other industry lobbyists objecting to proposals in Washington DC aimed at closing the “Bermuda loophole” in the US tax code ”appear to be spurious.” And tax law professor Linda Beale dismissed ABIR claims that... Read more of this article
