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Bermudian Reinsurer Uses Digital Certificates On-Line

by Jason Gorringe, Tax-News.com, London

27 December 2001


Bermudian insurer Axis Specialty Ltd. this week announced it has appointed QuoVadis to provide digital signature solutions for its reinsurance operations.
“Digital certificates allow companies to move their business online, improving responsiveness while managing the risks to both their reputation and bottom line. By using QuoVadis certificates, Axis is able to reinforce the link between its global operations and the Bermuda jurisdiction,’’ QuoVadis CEO Tony Nagel said. Both companies are based in Bermuda.

Bermuda was one of the first jurisdictions in the world to enact legislation via its Electronic Transactions Act dealing with the formation of electronic contracts and the validity of digital signatures in 1999. Long a home to leading insurance and investment companies, the island now hosts a growing convergence of global e-business companies and service providers.

Digital certificates are a form of secure electronic ID used on corporate and institutional networks to identify users and protect content. Known as public key infrastructure (or PKI), the technology is used online to enable strong access control, privacy, authentication of users, integrity of data, and non-repudiation. PKI also provides the mechanism for legally enforceable electronic signatures. QuoVadis offers a suite of trusted products to assist clients in taking full advantage of PKI across their business. These include options for secure e-mail and web forms, access control, VPNs, smartcards, and others.

QuoVadis joined forces with Baltimore Technologies in 2000 to provide the world-class e-security necessary for the PKI service. Aidan Gallagher, Executive Vice President of Global Business Development for Baltimore Technologies says: 'Baltimore Technologies is pleased to work with QuoVadis in creating a commercial security service for Bermuda and other countries in the offshore world. While the Internet itself may be borderless, business is not - businesses want to align with the legal, tax, and regulatory frameworks of certain countries whether or not they are in the real world or cyberspace.'

QuoVadis also teamed up with Ernst & Young which served as the company's key advisor on strategic and policy issues. 'Ernst & Young is proud to serve as QuoVadis' trusted business advisor,' said Cam Johnston, a partner in the Security and Technology Solutions practice, 'sophisticated technology is not enough to support trust in e-business. QuoVadis has developed a world class trust service that includes the legal and operating framework to help companies integrate PKI into both their applications and their businesses.'


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