Abir To Sponsor Free Insurance Course For Fifth Year

Partnership with Bermuda College and St. John’s University continues

The Association of Bermuda Insurers and Reinsurers (ABIR) will sponsor a free foundational course for the fifth consecutive year, providing Bermudian students and the public with free access to education about Bermuda’s re/insurance industry.

In collaboration with Bermuda College and the Maurice R. Greenberg School of Risk Management, Insurance and Actuarial Science at St. John’s University, ABIR will host the Special Topics in Insurance programme.

This year ABIR welcomes two new partners, Lloyd’s, the longest-standing global re/insurance market, and The Institutes Knowledge Group, a global provider of online courses and designations in the risk management and insurance field. Each will host one of the 14 weekly sessions.

Designed to introduce participants to Bermuda’s globally recognised re/insurance market, the online course also serves as a stepping stone to potential careers in the industry for students and career shifters alike. Craig Simmons, retired senior lecturer at Bermuda College, will lead the course for a fifth year.

The programme will be conducted online via Zoom on Monday evenings from 6pm to 8pm, starting on January 13, 2025. Sessions will feature esteemed faculty from St. John’s University and senior executives from ABIR member companies. The opening session will feature a roundtable discussion on the socio-economic impact of international business in Bermuda.

Course topics include:

• The history and economic importance of Bermuda’s re/insurance industry
• Careers in insurance
• Bermuda’s leadership in natural catastrophe reinsurance and climate risk
• Focus on market segments including collateralized reinsurance, cyber re/insurance, captive insurance and run-off insurance
• Diversity, equity and inclusion
• The role of regulation in insurance.

The session hosted by Lloyd’s will inform participants on what the Lloyd's market is, how it operates and the unique risk transfer solutions it offers. It will also explore the collaborative relationship between Lloyd's and Bermuda as the world's two major re/insurance hubs.

Trends in artificial intelligence (AI) will be the main focus of the session hosted by The Institutes Knowledge Group, as well as an overview of The Institutes organisation and its offerings for re/insurance professionals.

John Huff, ABIR President and CEO, said: “ABIR’s sponsorship of this course is a testament to our member companies’ commitment to fostering a diverse and inclusive workforce. By introducing young Bermudians to the re/insurance industry, we aim to cultivate future Bermudian leaders in this global sector.

“We are grateful for our continued partnership with Bermuda College and St. John’s University, and we’re pleased to welcome our new course partners, Lloyd’s and The Institutes Knowledge Group, who’ve added new dimensions to the course content. I also want to recognise the volunteer presenters from ABIR member companies who generously share their expertise.”

Dr. Ali Arouzi, interim Vice President of Academic Affairs, Bermuda College, said of the course: “This joint initiative has notably enhanced our curriculum to meet the evolving needs of our students. The course has provided Bermuda College students with an in-depth knowledge of the economic impacts of international business on Bermuda’s economy and its regulatory system.

“Through this connection students have acquired comprehensive understandings of the key services that are provided by re/insurance industry. Additionally, with our industry partnership and abundance of expert guest lecturers in the field, the course has provided a dynamic learning environment for our students and a vital resource for those interested in fields such as Insurance, Actuarial Science and Accounting. Bermuda College looks forward to future collaborations to meet the diverse needs of our students.”

Mark J. Browne, Ph.D., Professor and Chair of the Faculty at the Greenberg School, said: “St. John’s University’s Greenberg School of Risk Management is delighted to partner again with ABIR and Bermuda College. The jointly produced Special Topics in Insurance course will provide insights into Bermuda’s insurance sector and act as a gateway for those eager to pursue careers in the industry. Targeted not only to students, but also to career changers, industry professionals, and anyone interested in the insurance and reinsurance sectors, the course hopes to enhance understanding and interest in the global industry.”

Dawn Miller, Chief Commercial Officer of Lloyd’s and CEO of Lloyd’s Americas, said “At Lloyd’s, we are committed to fostering innovation, building resilience, and supporting the next generation of leaders in the risk management and insurance sectors. Partnering with ABIR through the Lloyd’s Academy highlights the importance of two leading insurance markets – Lloyd’s and Bermuda – coming together to share expertise and drive progress in addressing global risks.”

Adam Carmichael, CPCU, President of The Institutes Knowledge Group, said: “The Institutes Knowledge Group is honoured to partner with ABIR in this educational initiative, which underscores the critical role of knowledge in driving the future of the re/insurance industry. By exploring topics such as artificial intelligence, we aim to educate students on the new approaches being leveraged in insurance and risk management, to broaden their perspectives of innovation in these sectors.”

Dakia O’Brien, a past participant in the course, who is now studying Business Administration at Purdue Global, said: “This course helped me to better understand the industry and choose the parts that interest me the most. I encourage anyone just getting into the industry to sign up for this course.”

Sakia Smith, another past participant, now studying Economics and Finance at Exeter University, said: “The insights I gained proved invaluable in interviews and allowed me to engage confidently in industry discussions.”

Kahil Smythe, an Accounting & Finance student at The University of Edinburgh, said of his experience of Special Topics in Insurance: “This course is ideal for anyone eager to deepen their understanding of the field, providing opportunities for internships, professional networking, and foundational industry knowledge. I found this experience to be both engaging and instrumental in shaping my career aspirations.”

Participants can register for individual sessions based on their interests or the full course through the Bermuda College website (www.college.bm) or at https://tinyurl.com/MyInsuranceCareer. The course is free of charge, courtesy of ABIR.