World Risk and Insurance News spoke with Brad Kading, President & Executive Director of the Association of Bermuda Insurers and Reinsurers (ABIR), during the recent Joint Industry Forum in New York.

Under the NAIC’s Reinsurance Regulatory Modernization Framework, reinsurers in certified jurisdictions may conduct cross-border trades under an expedited approval process and lower collateral requirements.  According to ABIR President Brad Kading, Bermuda is one of eight jurisdictions certified.  He says the certification is important for reputational reasons and is demonstration of regulatory cooperation between U.S. insurance departments and the Bermuda Monitory Authority (BMA).

For more information on the Joint Industry Forum, visit the On Demand Library.

Load More Related Articles
Load More In Legislation/Regulation

Check Also

Social Inflation, “Nuclear Verdicts” & Extreme Weather Top Insurer Issues in 2020 – NAMIC CEO.

Chuck Chamness, President and CEO of the National Association of Mutual Insurance Companie…