9 October 2015Actuarial & underwriting

BDA to lead Bermuda insurance experts at US healthcare exhibition

A Bermuda team of more than 10 brokers, captive managers and other insurance, regulatory, and associated representatives, led by the Bermuda Business Development Agency (BDA), will attend a leading healthcare event next month.

The team is attending the American Society for Healthcare Risk Management (ASHRM) on October 18–21 after the success of a recent webinar on the value of Bermuda captive insurers to US healthcare organisations, hosted by the BDA.

The event will help further promote Bermuda’s captive sector at a major annual conference and exhibition in Indianapolis.

The BDA will have a Bermuda booth (#724) at the ASHRM exhibition and is also partnering with the Bermuda Society for Healthcare Risk Management (BSHRM) to sponsor a special lunch event for conference attendees, with cyber-risk expert Theresa Payton as keynote speaker.

“Our recent webinar highlighted the high level of international interest in the area of healthcare risk management, and provided a great launchpad for our upcoming attendance at ASHRM,” says Jereme Ramsay, business development manager at the BDA.

“Bermuda is a trusted, innovative partner in the healthcare insurance space, with an active reinsurance market that’s able to offer many professional liability excess of loss programmes. It makes our market a one-stop shop for those seeking solutions.”

Healthcare policy changes in recent years, particularly in the US under ObamaCare, have driven amalgamation of hospitals and other healthcare entities and expanded Medicaid coverage to millions more Americans. That trend has created greater demand for healthcare captives to offset the upsurge in potential risks.

Bermuda has around 40 professionals writing healthcare insurance and reinsurance for a full spectrum of entities; the market can also count among its advantages a solid track record of paying claims, access to Bermuda’s behemoth reinsurance market and capacity in the jurisdiction to write up to $400 million for any single risk.