Establishment and Growth of Insurance Carrier
Lack of Infrastructure – With a lack of bandwidth, the infrastructure needed to be put in place and well documented in order to receive approval and licensing from the BMA as well as execute all of the components of an insurance carrier, from sales to policy management. Fidelman & Co. took the place of COO to build and complement these processes.
Licensing – CFC needed to navigate the regulations and requirements of the Bermuda Monetary Authority in order to obtain licensure.
Funding – CFC needed to raise the necessary regulatory capital to issue insurance policies.
The first 90 days
Create Operational Infrastructure – Acting as President and COO of the insurance carrier, Fidelman and Co. created an operational structure for the company, including underwriting guidelines and generating policy quotes for potential customers.
Application for Licensing – Fidelman & Co. worked with Bermuda Monetary Authority in order to obtain licensure and pass inspections.
Fidelman & Co.’s work resulted secured partnerships with re-insurers, an A+ S&P/Moodys rating, and the lucrative sale of CFC’s insurance carrier.