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November 20, 2018

Whither the Fates Carry Us

Summary:

Insurers based in Bermuda should fly the flag. They should do more to explain why the island is the ideal locale for their industry.

Photo Courtesy of Pexels

Bermuda pays tribute to the Fates. It would, however, be tragic for insurance companies based in Bermuda to surrender themselves to the forces of whimsy and chance. It does not serve the interests of this island nation, of this remnant of the British Empire, to be true to the literal meaning of its motto, “Quo Fata Ferunt,” which means “Whither the Fates Carry Us.” Not when Bermuda is so attractive to so many insurers. Not when the symbols of this territory represent what most appeals to the insurance industry as a whole.

The long continuity of laws, language, literature, history and tradition—all of these things, and more, belong to Bermuda. They come together under the Red Ensign: one flag for two countries, combining the Union Jack with Bermuda’s coat of arms.

Promoting that flag as an emblem of security, as a haven of economic stability amid a sea (or a triangle) of physical tumult in which storms strike and hurricanes gather strength—in which the pastels of island homes turn pale beneath a wrathful sky—that that flag is still there is the modern-day story of Bermuda.

See also: Awareness: The Best Insurance Policy  

To see the Union Jack is to see a terrestrial body with celestial power. It is to see an icon of permanence from a flag without stars. It is to see a light of safety, alerting captains to steer clear of the rocks and reefs that threaten passengers and crew: a warning painted on a shield—of a wrecked ship tossed by a tempest—where the red lion of Britannia is the pride of Bermuda and the protector of the innocent and true.

According to Janil Jeal, director of overseas operations for LogoDesign.net: “Few symbols are as potent as a flag. It can unify a people, just as it can be a universal badge of freedom. It can inspire citizens and companies to do their best.”

Put another way, insurers based in Bermuda should fly the flag. They should do more to explain why the island is the ideal locale for their industry. They should do so to report—and reinforce—what no amount of marketing can match and no barrage of advertising can equal: that the flag signifies what insurers crave and consumers want, that it sends the right signal about reducing risk, that it stands as its own reward.

To get to that point requires repetition.

Such is the best insurance policy for the insurance industry: to condense—and to convey—the economic benefits of Bermuda into something tangible, a flag (or the image of a flag), that flies outside all manner of buildings, that flies highest in the island’s capital city, that flies atop institutions of financial capital.

Fly the flag—but do not forsake its importance.

See also: 3 Reasons Millennials Should Join Industry  

Do not dilute its presence by making it ever-present. Do not render it tacky. Do not ruin it by relegating to the realm of some tinhorn dictator

Recognize, instead, why it is sacred.

Recognize that it is a flag worthy of respect, whose worth accrues to insurers willing to preserve, protect and defend its existence.

May it continue to endure.

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About the Author

Lewis Fein writes about law and public policy, among other things. His commentary has been featured on CNBC, KABC Radio, Fox Business News and elsewhere.

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