BDA opens Bermuda Risk Summit this week
The third Bermuda Risk Summit is hosted this week over three days, with delegates that include the heads of the National Association of Insurance Commissioners and US Department of Treasury’s Federal Insurance Office.
The summit is presented at the Hamilton Princess & Beach Club by the Bermuda Business Development Agency in partnership with the Association of Bermuda Insurers and Reinsurers and EY.
David Hart, CEO, BDA, said, “Bermuda’s largest and closest and trading partner remains the US, and we are honoured that no fewer than five NAIC Commissioners (including Commissioner Andrew Mais, NAIC President and Commissioner, Connecticut Insurance Department) and Steven Seitz, Director, US Department of Treasury, Federal Insurance Office, are speaking at our event.”
“As a sixth-generation Floridian, I am so pleased to welcome back Commissioner Mike Yaworsky, Florida Office of Insurance Regulation to the Risk Summit,” Mr. Hart said. “And since nothing compares to experiencing Bermuda’s globally significant risk market first-hand in person, I am excited to welcome the Honourable Tom Fabricio, from the Florida House of Representatives, to Bermuda as a BDA speaker for the first time.”
The immediate economic impact of the 2023 Bermuda Risk Summit was estimated at $1.8 million, supporting 266 jobs. It included a total of 450 attendees (more than 150 from overseas) with impact estimates factoring in lodging, transportation, food and beverage, retail and recreation.
The BDA said that far more significant were the long-term economic benefits brought about by the additional 100-plus visitors who flew to Bermuda for business meetings during the week of the summit.
The Bermuda Risk Summit has encouraged delegates to take advantage of the BDA Connect app and book 1-on-1 networking meetings directly with other attendees. Registrants qualify to receive 20 per cent off flights on the summit’s official airline partner, BermudAir, which flies to Bermuda from Westchester, New York, Fort Lauderdale, Florida, and Boston, Massachusetts.
• See Related Media for the BDA press release
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