Bermuda’s insurers—and, by extension, captive insurers—have until July 1 to satisfy the government’s new economic substance requirements, which have a considerably broad scope. Janine Carey, associate at Appleby, has the details.
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COVID-19 will drive the development of new and innovative risk management responses, according to the Bermuda Monetary Authority (BMA), with captives playing a key role in helping their owners mitigate these risks.