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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.
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