BERMUDA MONETARY AUTHORITY

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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 ........................................ ........................................ .............. 3 III. Conclusion ........................................ ........................................ ........................................ .............. 5 APPENDICES: 1 Proposed Amendments to the Insurance Code of Conduct (Redline Version) 3 I. INTRODUCTION 1. The BERMUDA MONETARY AUTHORITY ( AUTHORITY or BMA) is committed to enhancing its regulatory framework to ensure that it remains effective and aligned with international standards.

Business Continuity and Disaster Recovery Plan 13. The Authority highlights the requirement to have a business continuity and disaster recovery plan that addresses all of its key business processes and critical business functions. The effectiveness of the plan should be tested regularly. Outsourcing 14.

  Business, Continuity, Business continuity