A top businessman yesterday called for better value for money for Island visitors and indicated that the recent influx of insurance business to Bermuda would create demand for better delivery from Bermuda's tourism sector.

But it could also be an opportunity to turn around a tourism market in the doldrums, ACE chief executive officer Brian Duperreault told the audience at the Bermuda Employer Council's 41st annual general meeting.

Mr. Duperreault's said the global insurance market was hardening quickly (rates were increasing) following the September 11 attacks in the US and this would trigger increased business travel to the Island.

Already Bermuda has seen seven new insurers move in along with an infusion of some $6.5 billion of new capital.

But the new market will bring demanding business travellers to Bermuda, warned Mr. Duperreault, who asked: "Is Bermuda prepared to meet the needs of this new influx of visitors, probably one of the most demanding travel segments there is?"

He said Bermuda could expect to see an increase in the number of executives coming and going and that many business travellers would have accompanying family members.

Mr. Duppereault characterised these travellers as "a group of people who are well-travelled, sophisticated - and busy.

"They're busy all the time. They want state of the art telecommunications that keep them in touch with the rest of the world on a 24/7 basis.

"They want five star treatment in first-class business hotels and they want value for money for the goods and services they purchase," he said.

He added: "How often have you heard that? As often as you've heard that Bermuda has to get its product up to scratch and that Bermuda is too expensive."

Mr. Duperreault noted that this type of traveller was not necessarily looking to lie on the beach "so weather is not an issue, and they don't mind spending money - if they're getting value".

He asked: "But can we honestly say we're addressing this issue of value for money?"

He stressed that this was an issue that had plagued the Island since he returned from the US in 1994.

Mr. Duperreault said he had seen clear examples of Island guest properties "investing significant sums of money to improve their product and cater to the needs of the business traveller. ..because they see great potential for profitable business in Bermuda."

And he called for the hospitality industry, as a whole - including taxi operators, retailers and restaurateurs - to step up to the plate.

"The imminent growth in the Island's reinsurance sector is a golden opportunity for members of the hospitality industry...every touch point, from arrival to departure should ensure that the visitor experience in Bermuda is the best there is," he said.

In conclusion, Mr. Duperreault predicted that Bermuda's ailing tourism market could be redefined and "capture a lucrative niche in the market".