BDA invites Canadian energy firms to captive insurance webinar

Bermuda Business Development Agency (BDA) has invited Canadian oil, gas and mining corporations to listen to a captive insurance webinar.

The webcast, ‘Captive insurance for Canada's energy industry and global firms’, will take place on December 9, 2015.

The fifth and final webinar of the year will feature an industry panel discussing the regulatory, legal and tax issues, plus benefits of setting up a Bermuda captive insurer for large Canadian corporations, specifically those seeking risk-management strategies in the energy and mining sectors.

"With depressed oil prices, companies in this sector are looking at many ways to manage costs," said panellist David Gibbons, managing director of the captive insurance group at PricewaterhouseCoopers and chair of the annual Bermuda Captive Conference.

"Even with low market premium rates, insurance expenses continue to be significant for this sector. Many companies are starting to use captive insurance solutions to manage these costs without increasing their risk exposure."

Other speakers include: Chris Heinicke, senior vice president, casualty, Aon Bermuda; Jason Pugi, vice president (VP), general casualty, Allied World; Oceana Yates, VP, captives, R&Q Quest Management Services; and Leslie Robinson, assistant director, licensing and authorisations, Bermuda Monetary Authority (BMA).

Rob Paton, president of the Bermuda Insurance Management Association (BIMA), will moderate the session.

Jereme Ramsay, BDA business development manager for the risk sector, added: "We have found webinars an excellent way this year to connect with new audiences globally.

“They give us the ability to promote Bermuda's business advantages, as well as the wide-ranging industry expertise within our jurisdiction, to companies we otherwise might not reach. We believe Canada's energy and mining sectors are a good example-it's a win-win."