Regulation

The House of Representatives’ Judiciary Committee passed the bill to the next stage, with 14 votes in favour and three against.

The government intends to develop a policy for financing of natural disaster risk which could include cat bonds.

The committee voted in favour of a new law that would see state funds used to buy cover for the costs of responding to a natural disaster.

Brokers could act as market makers for ILS transactions listed on the exchange.

The bill will now pass to the rules committee.

New registrations are expected from the ILS market.

Warm winter sun might have helped Miami’s case for bringing ILS folks to the city for one of its annual conferences a couple of weeks ago.

Both houses of the state legislature are eyeing up reform of attorney fees involved in litigated insurance claims.

Bermuda was included on the EU’s 2015 blacklist.

The regulator intends to publish further material to support the industry after the consultation period.

The offering will lower costs for clients, according to head of fixed income at the London Stock Exchange Darko Hajdukovic.

The US Department of Justice, the Securities and Exchange Commission and Bermuda Monetary Authority are conducting inquiries into the firm’s ILS subsidiary Markel Catco.