Bermuda Privacy Commissioner Signals Shift to Stronger PIPA Enforcement

Navigating BMA’s proposed AI guidance note

Now that the Bermuda Monetary Authority has shifted its focus from general principles about artificial intelligence to a concrete, actionable regulatory framework, board and executive teams of financial service companies must take note and decide whether to become involved in the consultative process.

Jerome Wilson, Karim Creary

AI in the Workplace: Emerging Legal Issues for Bermuda Employers

Artificial intelligence is rapidly becoming part of the modern workplace. It has moved quickly from being an experimental technology to an everyday business tool. Employers are already using AI to draft job advertisements, screen applications, assess candidates, analyse employee performance, monitor productivity and assist with disciplinary and termination decisions. For employers, the attraction is obvious. AI can process large quantities of information quickly, identify patterns and perform tasks that previously required significant human resources. But such widespread application of AI is also giving rise to legal risk as regulators and courts around the world consider what happens when an employment decision is made, or materially influenced, by an algorithm. It is a question that is likely to become increasingly relevant in Bermuda, as the law necessarily catches up with the technology.

Anna Markiewicz

Capital rich, softening rates, big opportunity: the growth dilemma

After several years of healthy profits, despite some softening, the reinsurance market remains in good shape – if discipline remains. Meanwhile, new and complex risks are emerging, including data centres, offering big opportunities for growth for those willing to take it on. They were some of the takeaways from 10 senior executives from the Bermuda market who met at a roundtable in Monte Carlo.

Brad Adderley

A refusal to stand still

Anchored by regulatory credibility and an unmatched marketplace, Bermuda continues to widen its offering with capital adaptability and innovation, says Brad Adderley, of Appleby.

Brad Adderley

Late-stage liquidity and the Bermuda fund toolkit

Private-market liquidity once followed an exit. Today, however, it must often be engineered. That matters in Bermuda, where asset management is not only a substantial sector in its own right, but also complemented by Bermuda’s re/insurance and insurance-linked securities market.

Charles Hambling

The limited liability company: ten years on

Nearly a decade after they were first introduced in Bermuda, parties have started to appreciate the benefits offered by limited liability companies — and consequently we have begun to see LLCs used with increasing frequency.

Matthew Ebbs-Brewer

MGAs, capacity and control

Max Tetlow and Cathryn Minors of Appleby examine the forces pushing MGAs toward better alignment and more disciplined capital.

Cathryn Minors, Max Tetlow

Bermuda’s digital asset foresight bearing fruit

The wisdom of Bermuda’s pioneering approach in the digital asset business space has been underlined by the latest global economic impact figures compiled by McKinsey & Company, the global management consulting firm.

George McCallum

Bermuda: Restructuring & Insolvency

This country-specific Q&A provides an overview of Restructuring & Insolvency laws and regulations applicable in Bermuda.

John Wasty, Daniel Burkitt, James Batten, Robert Nash