While Bermuda has been the domicile for captive insurers and alternative insurance facilities for decades, it was not until the mid-1980s that Bermuda became the market of choice for direct and traditional insurance products. This includes the evolution of the Bermuda Forms, which have become the standard for commercial insurers globally with respect to products, transportation, health care, and professional liability exposures.
Lawyers at BatesCarey LLP have been involved with the Bermuda market since the inception of XL and ACE in the mid-1980s and the subsequent formation of other insurers. We are regularly called upon to counsel Bermuda insurers with respect to claims administration and policy analysis, and the assumption of proactive claims responsibility in the U.S. and elsewhere. We have worked with these clients in the drafting of revisions to the Bermuda Forms and have a keen understanding and appreciation of the nuances of the Bermuda Forms.
We also serve as U.S. claims counsel for numerous Bermuda insurers, which includes the handling of arbitrations in London, England. Through our involvement over the past 25+ years with these coverage disputes and arbitration proceedings, we have gained a unique insight into the interpretations of Bermuda Forms provided by courts and arbitration panels. Because of this experience, we are also regularly retained by domestic and European insurers who participate in programs utilizing Bermuda Forms.
Due to the variety of sophisticated insureds opting to purchase their coverage in Bermuda or on Bermuda Forms, we have significant experience in numerous areas of coverage, including: