RIMS an eye-opener

The idea of Bermuda’s role in the insurance industry became apparent as a tangible reality for me at the Risk & Insurance Management Society’s (RIMS) 2013 conference in Los Angeles, California last week. 

Bermuda has maintained a presence at RIMS for over 30 years, and this year I had the great opportunity to join over 100 representatives from Bermuda’s business community, the Bermuda Monetary Authority, and Bermuda Government. 

Over 10,000 people from all over the world congregated at the Los Angeles Convention Center representing every aspect of the insurance industry globally, and Bermuda, with our two-storey cottage-style booth, hot pink Bermuda bags, and men in their pink, yellow and red Bermuda shorts, caused quite a stir at the conference. 

As soon as the doors to the exhibition hall opened, hundreds of people made their way directly to the Bermuda area to learn more about doing business in Bermuda and chat with one of the many volunteers from Bermuda’s business community. At the end of only two days, we interacted with over 2,500 people at the booth. 

In past years, the Bermuda Government has maintained a presence at RIMS, and this year was no exception. Premier Craig Cannonier, Minister Grant Gibbons, and Minister Bob Richards added to the visibility of Bermuda at the event. The Bermuda government delegation created a high level of interest and demonstrated how serious this jurisdiction takes our insurance industry. They met with business leaders as well as the president of RIMS and were interviewed by press from major publications around the world – serving to raise Bermuda’s profile significantly. 

RIMS 2013 introduced some to Bermuda for the first time, further strengthened existing relationships, and demonstrated that yes, Bermuda continues to be a stalwart in the insurance industry. We are reliable, innovative, and play a very important role in the industry worldwide. I was, and continue to be, proud to see Bermuda stand above the rest, and I look forward to promoting Bermuda at RIMS 2014. n

Yelena Packwood is with Bermuda Business Development Corporation.