During a panel session earlier today at the ILS Bermuda Convergence 2025 conference, it was announced that the Bermuda Monetary Authority (BMA) is currently in the final stages of implementing a new special purpose insurer (SPI) class that will primarily focus on the use of parametric triggers.
The announcement was made by Taijaun Talbot, Assistant Director, Supervision (Insurance), BMA, who spoke during a panel session that featured Sarah Demerling, Partner at international law firm, Walkers Bermuda.
Early in the session, Demerling highlighted how the industry is seeing an increasing interest in novel insurance-linked securities (ILS) structures, particularly climate-linked parametric triggers.
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