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ARTICLE · 31 JANUARY 2024

Chambers Insurance & Reinsurance Guide 2024: Bermuda

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This guide provides the latest information on sources of insurance and reinsurance law, overseas-based insurers or reinsurers, making an insurance contract, intermediary involvement...

BermudaInsurance
Brad Adderley
Brad Adderley
Alan Bossin
Alan Bossin
Matthew Carr
Matthew Carr
Gary Harris
Gary Harris
Josephine Noddings
Josephine Noddings
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This guide provides the latest information on sources of insurance and reinsurance law, overseas-based insurers or reinsurers, making an insurance contract, intermediary involvement, alternative risk transfer (ART) transactions, warranties, conditions precedent, insurance disputes and insurtech.

1. BASIS OF INSURANCE AND REINSURANCE LAW

1.1 SOURCES OF INSURANCE AND REINSURANCE LAW

The principal legislation governing companies in Bermuda is the Companies Act 1981, as amended (the "Companies Act"), under which the majority of companies in Bermuda are incorporated by registration.

In addition to the Companies Act, (re)insurance companies and (re)insurance intermediaries in Bermuda are also governed by the provisions of the Insurance Act 1978 and related regulations, rules and guidance notes, each as amended from time to time (the "Insurance Act"), which applies to any person carrying on insurance business in or from within Bermuda. "Insurance business", which

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