Members
Parliament
Transparency

N. H. Cole Simons

1424
Speeches
165,822
Words Spoken
83
Sittings Active
26 Jul 2019 House of Assembly
Official Hansard Report - House Of Assembly
416 words
Thank you, Mr. Speaker. Mr. Speaker, I will make it clear that we support the legislation. We also recognise that Bermuda has to be at the cutting edge. We are moving into a new era, and again, the financial service industry is 2380 26 July 2019 Official Hansard Report Bermuda House of Assembly changing. There is more emphasis placed on …
26 Jul 2019 House of Assembly
Official Hansard Report - House Of Assembly
813 words
IIGB . . . again, this is a new space and it speaks to the digital universe. We hav e known that historically the digital industry has had challenges getting traditional insurance for their assets and converting digital assets to fiat currencies, Mr. Speaker. So this here is a very innovative space. We are currently, as a country, trying to …
26 Jul 2019 House of Assembly
Official Hansard Report - House Of Assembly
37 words
Thank you, Mr. Chairman. [Clause 4,] item 8, Class IIGB, and I think it is going to probably deal w ith, as my Finance Minister said to me earlier, How long is a piece of string? [Laughter]
26 Jul 2019 House of Assembly
Official Hansard Report - House Of Assembly
136 words
The question becomes (I will just repeat it), “ A body corporate is registrable as a Class IIGB insurer where that body corporate intends at the time of its application for registration to carry on general business in an innovative manner.” To me, the “innovative manner” is so vague and is so subjective, one has to somehow frame the innovation …
26 Jul 2019 House of Assembly
Official Hansard Report - House Of Assembly
133 words
Yes, just a follow -up. I respect and I do understand the Minister’s comments. I would in response say, then we need to ensure that we have entrepreneurs of this nature and of this industry working for and p laying a crucial role in the regulatory body. People say if you want to know an industry, you know how it …
26 Jul 2019 House of Assembly
Official Hansard Report - House Of Assembly
98 words
[Clause] 15, the requirement for qualified loss reserve specialist s. I have two que stions. Will the BMA have a list of approved or qualified actuaries or loss reserve specialists that they would approve for the industry? And the second question is, If a company decides to use an overseas loss reserve specialist, or overseas actuary who is not licensed …
26 Jul 2019 House of Assembly
Official Hansard Report - House Of Assembly
63 words
Just to follow up, so the actuarial designation, as we just left the accounting i ndustry . . . so the act uarial designation will be assessed based on jurisdiction and where a person qualifies and maintains his licence and ––will they do an assessment on the actuaries to ensure that they adhere to best practices and that their credentials …
26 Jul 2019 House of Assembly
Official Hansard Report - House Of Assembly
20 words
Thank you, Mr. Chairman. I would like to refer the Minister back to [section] 30JF, material changes: insurance marketplace provider.
26 Jul 2019 House of Assembly
Official Hansard Report - House Of Assembly
35 words
So, that is [section] 30— that is page 11. Material change to marketplace— 2386 26 July 2019 Official Hansard Report Bermuda House of Assembly Hon. Curtis L. Dickinson: It is clause 37, Mr. Chai rman.
26 Jul 2019 House of Assembly
Official Hansard Report - House Of Assembly
2 words
Page 11.
26 Jul 2019 House of Assembly
Official Hansard Report - House Of Assembly
186 words
[Section] 30JF, Material changes. So, when the marketplace makes material changes, they have to report it to the BMA. And my question is this, because I am sensitive to the ou tsourcing of compliance functions, IT functions and information security and other operational issues and other operational functions overseas. So, are you tel ling me, before any outsourcing takes place, …
26 Jul 2019 House of Assembly
Official Hansard Report - House Of Assembly
83 words
Just for clarity then, so the BMA will approve it and the companies will not just be able to file it because approval and filing are two di fferent things. So, in this case, they must approve it before it is done an d not just have the marketplace provider file the information. [Pause] Hon. Curtis L. Dickinson: Mr. Chairman, …
19 Jul 2019 House of Assembly
Official Hansard Report - House Of Assembly
102 words
Thank you, Mr. Speaker. Mr. Speaker, I would like to associate myself with the comments made in regard to Senator Jeannette Cannonier. We crossed paths in the banking community, as well as in the Legislature. She was committed to public service, and she was passionate. She was a clear speaker and a concise speaker. And she did not mince her …
19 Jul 2019 House of Assembly
Official Hansard Report - House Of Assembly
145 words
And we were sitting around deciding who was going to eat what. And everyone had to choose one of them. Well, it was the funniest thing you can imagine. Mr. Speaker, I would like to also associate myself with the comments made in regard to Aina Wi lkinson. I knew her well. Her daughter and I share the Arts Foundation …
19 Jul 2019 House of Assembly
Official Hansard Report - House Of Assembly
175 words
Yes. I would like to associate the Honourable Member Scott and Ms. Jeanne Atherden. Ms. Edness was my neighbour. She knew me before I knew myself. She used to take me to church, Christ Church in Warwick, when I was a youngster. And she took me swimming. So, I called her up on her birthday, and I said, Ms. Edness, …
19 Jul 2019 House of Assembly
Official Hansard Report - House Of Assembly
100 words
It is the South Shore air. I took my grandson up to see her one day. And I was reluctant to give him to this 104- year-old lady. And she took him —and he is not a small child — and held him, and walked up and down. I said, Ms. Edness, sit down. She said, What for? What for? …
19 Jul 2019 House of Assembly
Official Hansard Report - House Of Assembly
11 words
I said, Who’s you? [She said,] Simons. Simons. [Timer beeps ]
19 Jul 2019 House of Assembly
Official Hansard Report - House Of Assembly
3 words
Anyway, I —
19 Jul 2019 House of Assembly
Official Hansard Report - House Of Assembly
11 words
—congratulate her and wish her many more years, Mr. Speaker .
19 Jul 2019 House of Assembly
Official Hansard Report - House Of Assembly
38 words
Mr. Speaker, I will be very, very brief. A number of things have been said that I am sure these Parliamentarians were looking over my shoulder at my notes. So, they have cut me short, Mr. Speaker. [Laughter]