Letter from Bermuda: Insurance boom comes with its own set of problems

Since the mid-1980s, Bermuda’s insurance sector has grown to become the island’s main source of business. The protracted, relentless collapse of the tourism sector since 1989 has eroded the notion that Bermuda leans on “twin pillars” of industry. One-third, probably, of Bermuda’s overnight visitors are now here on business. Risk-related business fills a larger fraction of Bermuda-bound airline seats.