Covid-19, Climate Risk & Insurtech The Key Issues

We continue to see real innovation in Bermuda in the key areas of Covid-19 remediation, climate risk finance and insurtech. With the continued growth of the ILS market and the raft of new heavyweight “class of 2021” insurers, Bermuda continues to offer significant re/insurance and retro capacity. The Global Pandemic will continue to be a significant claims issue, and insurers will work to tailor business interruption coverage to meet client needs better for future pandemics. Under pressure from investors - and with the leadership of government and industry groups - there is a tangible focus in Bermuda on bringing about net zero carbon emissions. Via enhanced ESG-focused client, risk and product selection initiatives, designed to compel clients to meet climate change targets, many insurers have created a dedicated Chief Climate Officer role.