ABIR to sponsor re/insurance foundational course

The Association of Bermuda Insurers and Reinsurers will sponsor a free foundational course introducing Bermuda residents to the re/insurance industry for the fifth consecutive year. 

Special Topics in Insurance, which starts on January 13, is presented in collaboration with Bermuda College and the Maurice R. Greenberg School of Risk Management, Insurance and Actuarial Science at St John’s University, ABIR will host the Special Topics in Insurance programme.

Next year’s programme will feature two new partners, Lloyd’s, the longest-standing global re/insurance market, and The Institutes Knowledge Group, a global provider of online courses and designations in the risk management and insurance field. Each will host one of the 14 weekly sessions.

ABIR said the programme is designed to introduce participants to Bermuda’s globally recognised re/insurance market and to act as a stepping stone to potential careers in the industry for students and career shifters alike. Craig Simmons, retired senior lecturer at Bermuda College, will lead the course for a fifth year.

The programme will be conducted online via Zoom on Monday evenings from 6pm to 8pm,. Sessions will feature faculty from St John’s University and senior executives from ABIR member companies. The opening session will feature a roundtable discussion on the socio-economic impact of international business in Bermuda.

Course topics include:

The history and economic importance of Bermuda’s re/insurance industry

Careers in insurance

Bermuda’s leadership in natural catastrophe reinsurance and climate risk

Focus on market segments including collateralized reinsurance, cyber re/insurance, captive insurance and run-off insurance

Diversity, equity and inclusion

The role of regulation in insurance.

The session hosted by Lloyd’s will inform participants on what the Lloyd's market is, how it operates and the unique risk transfer solutions it offers. It will also explore the collaborative relationship between Lloyd's and Bermuda as the world's two major re/insurance hubs.

Trends in artificial intelligence (AI) will be the main focus of the session hosted by The Institutes Knowledge Group, as well as an overview of The Institutes organisation and its offerings for re/insurance professionals.

John Huff, ABIR President and CEO, said: “ABIR’s sponsorship of this course is a testament to our member companies’ commitment to fostering a diverse and inclusive workforce. By introducing young Bermudians to the re/insurance industry, we aim to cultivate future Bermudian leaders in this global sector.

“We are grateful for our continued partnership with Bermuda College and St. John’s University, and we’re pleased to welcome our new course partners, Lloyd’s and The Institutes Knowledge Group, who’ve added new dimensions to the course content. I also want to recognise the volunteer presenters from ABIR member companies who generously share their expertise.”

Dr Ali Arouzi, interim vice president of academic affairs, Bermuda College, said: “This joint initiative has notably enhanced our curriculum to meet the evolving needs of our students. The course has provided Bermuda College students with an in-depth knowledge of the economic impacts of international business on Bermuda’s economy and its regulatory system.

“Through this connection students have acquired comprehensive understandings of the key services that are provided by re/insurance industry. Additionally, with our industry partnership and abundance of expert guest lecturers in the field, the course has provided a dynamic learning environment for our students and a vital resource for those interested in fields such as Insurance, Actuarial Science and Accounting. Bermuda College looks forward to future collaborations to meet the diverse needs of our students.”

Dr Mark J. Browne, professor and chair of the faculty at the Greenberg School, said: “St John’s University’s Greenberg School of Risk Management is delighted to partner again with ABIR and Bermuda College. The jointly produced Special Topics in Insurance course will provide insights into Bermuda’s insurance sector and act as a gateway for those eager to pursue careers in the industry. 

"Targeted not only to students, but also to career changers, industry professionals, and anyone interested in the insurance and reinsurance sectors, the course hopes to enhance understanding and interest in the global industry.”

Dawn Miller, chief commercial officer of Lloyd’s and CEO of Lloyd’s Americas, said “At Lloyd’s, we are committed to fostering innovation, building resilience, and supporting the next generation of leaders in the risk management and insurance sectors. 

“Partnering with ABIR through the Lloyd’s Academy highlights the importance of two leading insurance markets – Lloyd’s and Bermuda – coming together to share expertise and drive progress in addressing global risks.”

Adam Carmichael, president of The Institutes Knowledge Group, said: “The Institutes Knowledge Group is honoured to partner with ABIR in this educational initiative, which underscores the critical role of knowledge in driving the future of the re/insurance industry. By exploring topics such as artificial intelligence, we aim to educate students on the new approaches being leveraged in insurance and risk management, to broaden their perspectives of innovation in these sectors.”

Participants can register for individual sessions based on their interests or the full course through the Bermuda College website  or here . The course is free of charge, courtesy of ABIR.

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