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Webcasts Highlight Bermuda's Expanding Global Healthcare-Liability Sector

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September 08, 2017

A series of five webcasts produced by the Bermuda Business Development Agency (BDA) highlights the Bermuda insurance market's world-class talent and major capacity to cover rising global healthcare industry risks.

Over the past 5 years, Bermuda has become a leading healthcare-liability coverage provider, with insurance carriers able to provide up to $350-million capacity for any single risk. Insurance buyers also choose the Bermuda market due to the high standard of contract certainty and Bermuda's ability to create innovative new healthcare-risk products in response to the needs of hospitals, senior care facilities, physicians groups, clinical research organizations, blood banks, academic medical centers, and other healthcare clients.

"We're proud to have been able to work closely with industry experts to produce this topical webcast series," said BDA Business Development Coordinator Mark Darko. "The Bermuda healthcare market is a leader in this sphere and our industry has proven highly responsive in creating new products and providing access to a large volume of needed capacity. Bermuda's expertise is well reflected in the webcast participants—they are all highly experienced in the sector and represent the strong synergies in our marketplace."

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The five videos, which range in length from 1 to 5 minutes in length, will be released throughout September. They can be found on the BDA's YouTube channel and website. Each video details different aspects of the healthcare-liability market, including Bermuda's advantages over other insurance hubs to cater to this sector, claims paid to date, underwriting experience on the island, and the market's creativity and innovation. Topics and speakers are the following.

"Bermuda's Global Healthcare Insurance Market: A One-Stop-Shop for a Fast-Growing Sector"—Amy Wolfinger, vice president and senior healthcare broker at Aon, and Douglas Jones, assistant vice president and team leader at the Healthcare Division of Allied World Assurance Company

"The Flexibility and Creativity of Bermuda's Global Healthcare Market"—Susan Pateras, senior vice president and healthcare practice leader at Iron-Starr Excess Agency

"Underwriting Experience in Bermuda's Healthcare Insurance Market"—Ms. Pateras and Lindsay Roos, senior vice president and healthcare broker at Bowring Marsh Bermuda

"Claims Paid by Bermuda's Healthcare-Liability Market"—Kim Wilkerson, senior vice president and regional head of claims at XL Catlin

"Bermuda's Global Healthcare Market: More Than Excess Medical Malpractice"—Kirsten Beasley, senior vice president of Healthcare at Willis Towers Watson

"Bermuda's healthcare-liability insurance market is a robust, yet responsive industry that looks for bespoke coverages tailored to fit international demand," noted Ms. Beasley. "I am very happy to play a part in this initiative and appreciate the value of the BDA in drawing together independent industry partners to promote Bermuda as a leading healthcare jurisdiction."

Added Ms. Pateras: "The emerging dynamics of healthcare reform have presented distinct themes that clients are positioning themselves to address. Health systems and providers are facing extraordinary pressure to reduce costs, manage care more effectively across the continuum, and improve patient engagement. I believe the Bermuda market is keeping pace with these changes and continues to reinvent itself as we respond to changing needs of our clients. These videos tell that story and give insight into the strength of our market."

The webcasts are timed to preview next month's annual conference of the American Society for Healthcare Risk Management (ASHRM), a personal membership group of the American Hospital Association. ASHRM has invited a panel of industry experts from the inaugural Bermuda Healthcare Forum—held this past March at Rosewood Tucker's Point—to present at the conference in Seattle, Washington, October 15–18, 2017. Titled "A Peek Behind the Underwriting Curtain," the panel, featuring Ms. Pateras, Kim Morgan of Sompo International, Eve Adamson of XL Catlin, and Adam Bates of Allied World, will discuss how insurance carriers price medical professional liability policies.

"We're proud to have this opportunity to demonstrate the expertise within the Bermuda market," said Ms. Wolfinger, who will moderate the guest panel, "and the webcasts provide a great lead-up to this session. By partnering with the BDA, we're hoping to educate the next generation of healthcare risk and insurance professionals about the creativity, resourcefulness, and dedication to this class of business the Bermuda re/insurance marketplace offers."

The successful forum, which attracted close to 150 industry specialists to the island, is returning April 24–25, 2018, and will be held at the Hamilton Princess Hotel and Beach club. For information, contact [email protected].

For further reading on the 2017 Bermuda Captive Conference, see "Check the Bermuda Captive Conference Schedule and Watch BDA Webcasts," "Anthropologist To Speak at Bermuda Captive Conference," and "Bermuda Captive Conference Chair David Gibbons Fills in the Blanks."

Pictured above are Bermuda healthcare liability-insurance industry experts featured in a new webcast series: from left (top row), Amy Wolfinger, Doug Jones, and Kim Wilkerson; (bottom row), Lindsay Roos, Susan Pateras, and Kirsten Beasley.

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