Two critical agreements have been signed between CDMA and HSBC Insurance Brokers.

The first outlines the broad intentions of the parties and the working relationship between the relevant divisions of HSBC Insurance Brokers and CDMA.

The other formally appoints CDMA as an introducer authorised representative.

By virtue of these agreements, CDMA achieves FSA authorisation as an introducer appointed representative of HSBC Insurance Brokers. HSBC Insurance Management (Bermuda) Limited has established a Bermudan based insurance segregated account for the programme.

While the programme will initially focus on the Commonwealth countries, it is the intention of CDMA and HSBC Insurance Brokers to make the concept operable for any state or region of the world where the parametric disciplines can be applied.

The programme is also adaptable so that it may offer policies to corporate commercial bodies and charities whose financial requirements and exposure following a natural disaster may be significant.