HAMILTON, Bermuda, May 24, 2018 (GLOBE NEWSWIRE) — Leading healthcare industry and liability experts have praised the Bermuda insurance market for its capacity, collaboration and creative solutions following a successful gathering on the island.
The second Bermuda Healthcare Forum, held over two days last month at Hamilton Princess Hotel & Beach Club, saw more than 200 healthcare industry specialists attend, including more than half from overseas. Delegates shared best practices, discussed risk trends and advised on challenges faced in the healthcare field, including disaster preparedness, population health management, claims, cyber risk, and disruptive change impacting the healthcare landscape in the United States.
Overseas delegates included brokers, lawyers, specialists in captives, insurance, finance and risk management, plus patient-safety professionals from some of the largest health systems in North America. The forum, catering to sophisticated buyers for major hospital systems, long-term care facilities, physicians groups, and health-benefits and services providers, resulted in more than 105 rooms and a total of 322 nights booked at the Hamilton Princess and nearby hotels.
Bermuda Premier and Finance Minister David Burt, who welcomed attendees to Bermuda, called the island “the home of insurance innovation,” pointing out that global insurers based on the island are able to provide in excess of $350 million in capacity for any single risk and have the ability to write lead and excess layers on an insurance programme. The Bermuda market also has a solid track record of paying claims, has been consistent through all market cycles, and has the capability of providing substantive limits, he noted.
“As we face a changing healthcare landscape, we continue to look to the Bermuda marketplace as an industry leader, providing creative solutions for clients in an evolving industry,” agreed attendee Audrey Greening, Managing Principal of Integro Healthcare Practice in the US. “With the financial strength of our underwriting partners and their willingness to work with clients and brokers to develop new products, we rely on the Bermuda capacity to support the healthcare industry with their emerging risks.
“From the insights of speakers like Mark Field [Sutter Health] and Dr Eric Goralnick [Brigham & Women’s Hospital] regarding their personal experiences at their respective organisations to the high-spirited presentation by Hassan Murphy and Nicholas Szolkoly, [Murphy, Falcon & Murphy], the educational sessions provided a wealth of information,” Greening added.
Cyber panellist Josh Kinney, Director of Insurance for Advocate Aurora Health in Illinois, said the Bermuda forum offered a perfect opportunity to hear about current trends from experts in the field. “The topics were relevant and thought-provoking on all fronts,” he said. “It also provided an opportunity for health-system leaders, markets and service providers to come together to share knowledge and risk-mitigating strategies to benefit the collective industry. The forum was a perfect conference for experts and novices alike.”
More than 20 local companies participated as sponsors or supporters, including the Bermuda Business Development Agency (BDA) and major insurance, broking, and banking organisations, along with members of the Bermuda Hospitals Board, Packwood Home and the Bermuda Foundation for Insurance Studies (BFIS).
The event’s organising committee included: Heather Outerbridge of Allied World; Annie Sousa and Amy Wolfinger of Aon; Lindsay Roos and Samantha Ruberry of Bowring Marsh; Kareen Richardson of Integro; Ceri Riihiluoma and Ashley Robinson of Ironshore; Andrea Wass and Matt Downs of Sompo International; Kirsten Beasley and Gemma Northern of Willis Towers Watson; and Vivienne Moniz of XL Catlin.
Other local resources and vendors who worked on the event were: Terry Madeiros of marketing-design firm TM Design, Selange Gitschner of event production company dasfete, Susan Thomas of Sargasso Studios, Lara Smith of LDS Multimedia; and Bermudian freelance web developer Amy Peniston. Forum delegates enjoyed entertainment at the event provided by DJ Felix, Coral Beats, and The Simons Brothers.
For a full list of forum sponsors and other details, go to: www.bermudahealthcareforum.com
The next Bermuda Healthcare Forum will take place in the spring of 2020.
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