Bermuda revamps insurance rules.

This article reports on the introduction of a regulatory framework by the Bermuda Monetary Authority for catastrophe bonds and other specialized insurance instruments. The launch of the framework aims to attract more business to the island. The framework also applies to reinsurance sidecars, industry loss warranties and other special-purpose vehicles offered by insurance companies. Matthew Elderfield, chief executive officer (CEO) of the office, observes that capital markets plans to enter the insurance sector on the island.