The Bermuda Monetary Authority has published draft Guidance Notes for public consultation to support recovery planning requirements for Bermuda commercial insurers. The draft notes are intended to provide additional guidance on the standards in the Insurance (Prudential Standards) (Recovery Plan) Rules 2024 and set out the Authority’s expectations for the structure and content of insurers’ Recovery Plans. The consultation runs for 170 days, after which the BMA intends to issue a final version of the Guidance Notes. Comments on the draft Guidance Notes are requested by 30 September 2025.
Bermuda Monetary Authority 2025-04-24
Bermuda Monetary Authority launches 170-day consultation on recovery planning guidance for Bermuda commercial insurers
The Bermuda Monetary Authority has released draft Guidance Notes for public consultation to aid recovery planning for Bermuda commercial insurers. These notes clarify standards in the Insurance (Prudential Standards) (Recovery Plan) Rules 2024 and outline expectations for insurers' Recovery Plans.