Counsel from the Consul

AMERICA’S VIEW Counsel from the consul

The US Consul General to Bermuda, Mrs. Constance Dierman, offers valuable advice for business people visiting from America

Bermuda’s relationship with the United States began by accident. In 1609, the Sea Venture, on its way from England to the newly created colony of Jamestown, Virginia, was shipwrecked on the reefs around Bermuda. The passengers and crew came ashore, and that’s the short story of how the first settlers came to the island. In the years that followed, Bermuda became an important supply and waypoint between Virginia and England, and the island became dependent on trade with its nearest neighbour 750 miles to the northwest.

Today the US is still Bermuda’s most important trading partner, accounting for more than 70% of all imports.

A special relationship

“The US–Bermuda diplomatic and commercial relationship is an important one,” says US Consul General Mrs. Constance M. Dierman. “One of the reasons the Consulate is here is to support and promote US commercial interests on the island. Our website, https:// bm.usconsulate.gov, offers some very useful information about doing business in Bermuda. This handy resource has been prepared in collaboration with the US Department of Commerce. For business travellers that may need assistance, the Consulate is always available to give guidance or referrals, whether it’s for a lost passport, legal assistance, any other type of concerns, we’re absolutely open for business and welcome those approaches. Business travellers should also know that there are many professional organisations here that are wonderful resources and do a tremendous job in outreach and in making information easily available to visitors: The Bermuda Business Development Agency, The Bermuda Chamber of Commerce, The Bermuda Tourism Authority, the Bermuda Monetary Authority, the Association of International Companies and the Association of Bermuda Insurers and Reinsurers. Business people can either contact them before travelling, and be very well prepared upon landing, or visit with them while in Bermuda.”

Welcoming

Mrs. Dierman says that everyone gets a warm reception to the island. “You’re welcomed immediately, starting with arrival at the airport. Every person that greets you is warm and cordial. The ease of movement is incredible – starting with getting a taxi and getting to your destination with no difficulties and in comfort. I think there are very few places in the world where you can have such a seamless entry experience, which immediately sets the tone for your visit. I’ve traveled around the world, and I don’t think I have ever experienced such a gracious introduction and welcome. Business visitors will find that people are very inviting and they like to talk. Bermudians will tell you with pride about their country and its history – and their international connections. They will share stories and information about themselves and their interests, and they like to hear about you as well.

Multidimensional

“One of the things I’ve noticed is the multidimensional aspect of Bermudians,” Mrs. Dierman observes. “That can be underestimated, particularly by business visitors. I have gotten to know many senior business executives and have learned that they’re also historians, artists, volunteers, musicians, and teachers. That’s again a very special aspect about Bermuda. People invest heavily, not only in their ‘day job’, but equally into the community. Getting to know individuals personally is really getting to know Bermuda, what makes it tick, how it works, and frankly, from a business perspective, how to really engage in a productive way.”

Bermuda is very small geographically with a population of only around 65,000. We asked Mrs. Dierman how it compares with a small town in the US. “I am from a town in Ohio of about 80,000 people. However, that’s where the comparison ends,” says Mrs. Dierman. “Bermuda is very sophisticated for such a small island. It has every element of a big city, a prosperous nation, and yet it has that hometown feel. I think business visitors, regardless of where they’re coming from, will find that contrast interesting and helpful in developing those relationships that may further their business interests.”

Dress code

The Consul General was happy to offer advice on how professionals should dress for meetings in Bermuda. “Every businessman and businesswoman here are absolutely professional in their demeanor and their dress. There is a respect for self as well as for those with whom they engage. Obviously, dress is climatedependent, so if you’re visiting Bermuda in the summer months, I’d suggest you be mindful of that. Winter travelers will find the weather cool, though it is more temperate than you’d find in New York. For women, dresses are very much appropriate at any time, as are business suits. Dress in a way similar to how you would in a major city, but again dress appropriately for the climate.”

Connections

Mrs. Dierman then considered the cultural similarities between Bermuda and the US. “First-time visitors may be surprised at how comfortable they are in Bermuda because it is similar to the United States in so many ways. I think that is attributable to the long, strong, warm ties that the United States and Bermuda enjoy. We’ve had a sustained relationship with Bermuda for 400 years. Business visitors will find that the locals they engage with will undoubtedly have some connection to the United States. They, or their family members, may have studied in the US and many have relatives currently living in the US. And they almost certainly will have taken vacations in the US because it’s so easy to travel back and forth. Bermuda is only an hour time zone difference from the East Coast

– that’s a huge benefit. Certainly culturally, we share so much. It’s easy to keep up with the US news while on the island. The local cable television carries more than 100 US channels. The local radio stations play the US news and predominantly music by American artists. And as I said earlier, Bermuda relies heavily on the US for imports so the shops, drug stores, and supermarket shelves are filled with US brands. Which is great because I can always get my favourite foods or toiletries!”

There are an estimated 8,000 Americans who live and work in Bermuda. That’s more than 10% of the population, but the number of US Citizens in Bermuda doesn’t stop there. “We get half a million visitors from the US to Bermuda each year. So you can see how the United States contributes to the economy of Bermuda,” explains Mrs. Dierman. On politics

“Politics are a bit different here than they are in the United States, but you’re going to find that wherever in the world you’re doing business,” says the Consul General. “I think it is important for visitors to understand that Bermuda prides itself on being a sound place to conduct business. The government and other organisations work hard to maintain the credibility and reputation Bermuda has earned for its excellence in the establishment and compliance of regulatory standards. I think any US business person would find themselves most welcome, and should not have concerns that politics would somehow impact their ability to conduct business.”

Insurance

Americans don’t fully appreciate and that is the important role Bermuda plays in managing insurance and reinsurance risk globally.” Mrs. Dierman is referring to the fact that Bermuda is the largest supplier of catastrophe reinsurance to US insurers: $2.5 billion was paid out from Bermuda firms in response to the World Trade Center tragedy, $17 billion for Hurricane Katrina that hit the Gulf Coast in 2005, and billions more for hurricanes, tornadoes, and other catastrophes since then. Hurricane Florence has just recently hit the Carolinas, and Bermuda insurers are estimating that they will pay out $2.5 billion for wind, storm, and flooding damage to homes, autos, and industrial properties. She notes, “It is worth recognising that the insurance industry work that is done here is critical to the US economy.”

Time out

What about free time? If you’ve got a day or a few hours off during your visit, how would Mrs. Dierman suggest you spend that time? “I’m incredibly impressed by the Bermuda Tourism Authority,” she says, “and the materials they make available really help a traveller choose what to do based on their specific desires or interests. So, I would certainly point people to this resource. Sometimes, when my own family or friends visit, I will take them to Gibbs Hill Lighthouse in Southampton. From the top, you get a stunning overview of the whole island.

“A trip to the Town of St. George’s — a UNESCO World Heritage Site — to see all the history that’s there and how it relates to the United States is fascinating. Dockyard is another area that I think visitors will find of interest. I love to shop in Hamilton. And it’s not too hard to get to the beach no matter where you are, so you should really avail yourself of the opportunity. I have to put in a plug in for the Bermuda Aquarium, Museum & Zoo on Harrington Sound because I live close by – and, importantly, it’s an extraordinary example of Bermuda’s commitment to conservation and education. A lot can be packed into a short time in Bermuda. But, better still, what I would say to business visitors is to bring their family or a friend along and stay an extra day or two. Bermuda is really special, and you don’t want to miss a thing.”