One of America’s most respected authorities on Internet security, former White House chief information officer Theresa Payton, will give the keynote speech at next week’s annual Bermuda Captive Conference [June 8–10], of which the Bermuda Business Development Agency [BDA] is a supporting sponsor.
“Payton served at the White House under George W. Bush from 2006-08, the first woman to hold the position, administering information technology oversight for the president and 3,000 staff members,” the BDA said.
“With previous executive roles in banking technology at Bank of America and Wells Fargo, Payton is a cyber-security authority and expert on identity theft and the Internet of Things [IoT]. She currently advises organisations on improving their IT systems against cyber threats, through her company Fortalice LLC.
“Payton’s speech, scheduled for noon, Tuesday, June 9 at the Fairmont Southampton, is titled “Big Data and the Internet of Things: Boon or Bust for your Cyber Security Efforts?” She will discuss marketing databases, customer analytics, and protecting data elements from hackers, as well as how IoT will drive global change.
“The three-day conference, to be officially opened by Bermuda’s Premier Michael Dunkley at 2:30 pm Monday, June 8, is expected to attract some 650 delegates from Bermuda and overseas, according to organisers. A wide spectrum of captive insurance management firms, as well as support industries, are sponsoring the event.
“As well as the Premier’s opening address and Payton’s keynote speech, highlights include round-table discussions by expert panellists, informational sessions on trends and hot topics in the captive insurance industry, and networking events including a nature walk, golf tournament, and beach barbecue.
“Some 138 inductees to a new “Captive Hall of Fame”—honouring companies active in the Island’s captive sector over the past quarter-century—will also be recognised and presented with certificates by Premier Dunkley after his opening remarks.”
“The Bermuda Captive Conference recognises the important relationship between captives and Bermuda as a leading domicile,” said Tom McMahon, BCC Chairman. “This award is designed to acknowledge the loyalty and commitment of these companies to making Bermuda the world’s number-one domicile for captive insurance.”
The BDA added, “Bermuda is the top global captive jurisdiction, home to more than 800 captive insurance companies, supporting primarily Fortune 500 corporations in the US, and generating over $20 billion in annual gross written premiums.
“Notably, Bermuda-based captives support an estimated 25 percent of the American medical insurance and reinsurance market, and a growing number are originating from Canada and Latin America in recent years.
“Monday’s [June 8] opening round-table at 2:45 pm will feature Robert Paton, President of the Bermuda Insurance Management Association [BIMA]; Robert Vermes, President of the Bermuda Captive Owners Association [BCOA]; Jeremy Cox, CEO, Bermuda Monetary Authority [BMA]; ET [Bob] Richards, Minister of Finance; and Brad Kading, President and Executive Director of the Association of Bermuda Insurers & Reinsurers [ABIR].
“Speciality sessions throughout the event will focus on a wide range of industry issues, including re-structuring and re-domiciling; inter-company loans between captives and parents; healthcare captives; investment opportunities; group captives; segregated accounts; global fronting; emerging risks; and Bermuda as a domicile for LatAm captives.
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