First Published in The Royal Gazette, Legally Speaking, July
2019
Bermuda's commitment to providing innovative solutions in
the ever-evolving insurance marketplace is well-established.
The most recent example arrived in May with the release by the
Bermuda Monetary Authority of a consultation paper on the "new
insurers and insurance marketplace", including the Insurance
Amendment Act 2018.
In the paper, the BMA proposes the introduction of new classes
of Limited Purpose Insurers (LPIs): a fully
collateralised reinsurer class (Collateralised
Insurers) and an innovation class (Class
IIGB) in addition to a new category of intermediary,
insurance marketplaces.
Collateralised Insurers
