Re/insurers should continue holding remote board meetings: BMA

The Bermuda Monetary Authority (BMA) has promised to take into account difficulties re/insurers might have when arranging board meetings due to logistical and health difficulties resulting from COVID-19.

The BMA requires re/insurers domiciled in Bermuda hold physical board meetings in Bermuda for the period ending September 30, 2020.

However, the regulator acknowledged the unique challenges businesses currently face arranging board meetings, and has advised registrants to “continue to conduct their board meetings virtually, by telephone, video conference or other virtual means, where it is not practical to meet physically during this period.”