that would provide inside information on the Bermuda insurance market.

"The AS&K Guide to the Bermuda Insurance Market 1997'' is being launched by the firm's insurance team during a reception at the Windjammer Gallery next week Thursday, the culmination of a year-long project.

The new guide comes as law firms are devoting more time and energy to servicing insurance and insurance-related clients.

Head of Insurance at AS&K, Warren Cabral, said, "I would say that of our commercial practice, fully one half is insurance related. We have the largest insurance team on the Island, with 11 dedicated attorneys.'' The firm has already begun private distribution of the new guide, but expect more interest at next week's launch.

Mr. Cabral said: "The guide is intended to be a practical, how-to guide to every aspect of the market. It can serve as a working tool to insurance industry professionals and service providers -- everybody from lawyers, auditors, insurance managers, insurance professionals, investment bankers.

"It's a working, quasi-academic tool with 20 chapters, which could each stand alone. It is a compendium of self-contained chapters dealing with different aspects of the market. It explains, for example, what a mutual company is and how to form one. It explains about the different classes of Bermuda insurers, what they are, how to incorporate them and how to administer them.

"It explains what a rent-a-captive is, for instance, and the publication also includes many practical examples with copies of relevant legislation, and all of the various charts and forms required and sample business plans needed to incorporate an insurance company.

"It includes fee schedules and things of that nature, plus statistical information on the Bermuda market. It explores in-depth from a how-to standpoint, everything you need to create every kind of insurance vehicle, right down to residual value insurance companies.'' The publication was authored by various members of the insurance team at AS&K.

Each of the 20 chapters is separately contained and the entire book is also available on the Internet. It is being given to insurance professionals and those servicing the industry. Recipients are encouraged to suggest ideas that may be worth exploring for future chapters.

Mr. Cabral said, "It is designed to be added to, copied, distributed and used in anyway in hard copy form or electronically, as long as the usual attributions are made. We printed 300 copies initially.'' He said it is expected that the complete copy can be kept together with recommended companion copies of other publications. One is AS&K's handbook of insurance legislation that features all Bermuda statutes that touch on insurance of any form.

Another is a statistical survey of the market, kindly provided by The Bermudian Publishing Co. and Deloitte & Touche, together with a listing of the insurance market practitioners, a directory of service providers and statistics.

WARREN CABRAL