When US President Bill Clinton stepped in and rescued American Airlines from a potentially devastating pilots' strike, he may have also rescued the Third Bermuda Insurance Symposium, which starts at the Southampton Princess hotel tomorrow.

Organisers of the symposium, expecting hundreds of participants to fly in for the event, breathed a collective sigh of relief upon learning that Mr. Clinton stepped in minutes after union leaders ordered all 9,300 American pilots to walk off the job at midnight Friday.

The President used emergency powers to appoint a presidential board that will study the labour dispute and draw up a proposed solution. The move forced the pilots back to work just 24 minutes into their strike and postponed any new walkout for 60 days.

For the symposium, it came in the nick of time because Bermuda is expected to host a record number of symposium participants for four days this week. The trade show opens tomorrow evening with nearly 20 exhibitors and Premier David Saul will greet guests at a reception at the hotel.

The opening address, to be delivered by symposium chairman, Robin Spencer-Arscott, is Wednesday morning, after which panel discussions begin in earnest on a number of insurance-and reinsurance-related subjects.

Mr. Spencer-Arscott said, "It is more adventurous this year. We had about 400 people attending the last one in 1995. At this point we're just shy of 600 people.

"A lot of that is because of much more aggressive marketing. We sent out 55,000 brochures worldwide. Generally, if you can get one percent returns, it's great. Two percent would be fantastic. We are just over one percent and we are very pleased.'' Organisers also believe that changing the time of year was helpful. The first two symposiums were held in May. February hotel rates are substantially more accommodating and the hotel will welcome the added business after last week's slow period.

Vice president of Princess Hotels in Bermuda, Stephen Barker, said that the hotel is expected to go from 50 percent occupancy last week to 80 percent this week.

"It's also better to have the symposium two months before RIMS (the annual Risk & Insurance Management Society Conference), rather than a month after,'' said Mr. Spencer-Arscott. "It is all about timing.'' Some 300 people from the US and others from around the world are flying in to join about 200 executives from Bermuda for the event. There are more than 30 sponsors for the symposium.

The local insurance conference has attracted more risk managers than in the past as organisers sought to target more insurance buyers.

The chairman said, "There are people coming from the UK, the rest of Europe, Canada, the Caribbean and the Far East including Japan and Singapore.

"There are also a lot more speakers than in the past. We've had 35, maybe 40 before. This year we will have 54 speakers and will run simultaneous sessions in some cases to provide an alternative. The size of the Princess has allowed for that.

"We have a mixture of lines represented by the people attending, including financial, captives and reinsurance. We will have some people who are just interested in the ACE, XL and Starr type products, liability and D&O.

"Other issues we are looking at include securitisation and dynamic development in the Bermuda insurance market.

"The conference is bigger than in the past and those attending at least five of the panel discussions will be able to obtain the Bermuda Market Certificate, which has been arranged in conjunction with the Bermuda Insurance Institute and the College of Insurance in New York.'' There is also more media expected than ever before, with insurance correspondents attracted from various jurisdictions.