Florida Insurance Commissioner Kevin McCarty was reportedly in Bermuda last week to meet leading reinsurance industry figures.

The Florida-based examiner.com news website reported that the state's top insurance regulator addressed the boards of directors of the Reinsurance Association of America (RAA), and the Association of Bermuda Insurers and Reinsurers (ABIR).

"Florida has the same insurable value as the state of New York with ten times the coastline – not to mention we are geographically located in one of the most hurricane-prone parts of the world," Commissioner McCarty was quoted as saying.

"I appreciate the opportunity to meet with global reinsurance leaders to answer their questions, and to continue to promote investment in Florida's property insurance marketplace."

Hurricane-prone Florida relies on Bermuda reinsurers for a substantial amount of its property and catastrophe reinsurance coverage.

Mr. McCarty made the trip as a representative of the US National Association of Insurance Commissioners (NAIC), of which he is vice-president.

Last Monday, Mr. McCarty participated in an RAA panLast Monday, Mr. McCarty participated in an RAA panel titled, "Global Insurance Regulation and Capital Requirements".

The panel included representatives from PartnerRe Ltd., Swiss Re (Zurich), Ace Group Management and Holdings, Ltd., and Munich Reinsurance America. A partner of PricewaterhouseCoopers, Bermuda moderated the panel.

On Tuesday, the Commissioner delivered a speech to the ABIR board of directors, after which he addressed the RAA board.