BERMUDA MONETARY AUTHORITY
1 BERMUDA MONETARY AUTHORITY CONSULTATION PAPER REVISIONS TO THE INSURANCE CODE OF CONDUCT December 2021 2 TABLE OF CONTENTS I. Introduction ........................................ ........................................ ........................................ ............ 3 II. Proposals ........................................ ........................................ ........................................ ................. 3 Brief Description of Proposed Changes.
Outsourcing 14. The Code has also been amended to further enhance the requirements for outsourcing to ensure due diligence and risk evaluation process is undertaken prior to entering into an outsourcing arrangement. The Authority also proposes a contingency plan should the service provider be unable to provide the outsourced activity for any ...
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