Captive.com sends our best wishes for a great celebration to our readers who will be observing America's Independence Day. Captive.com and Captive Wire will observe the Fourth of July holiday on Friday, July 3.
The July 2015 issue of Captive Insurance Company Reports (CICR) features an excellent article on risk retention group (RRG) financial exam costs. The article is based upon research performed by Pinnacle Actuarial Services and written by Erich A. Brandt, Greg Fears, and Robert J. Walling III, actuaries at Pinnacle Actuarial Services in Bloomington, Illinois.
The June 26, 2015, issue of Insurance Thought Leadership features a useful checklist of 66 red flags when looking for compensability or potential fraud in workers compensation claims being handled by your captive.
A new A.M.BestTV video program takes a closer look at Senate Bill 1561, the Captive Insurers Clarification Act, which was recently introduced by Sen. Patrick Leahy (D-VT) and Sen. Lindsey Graham (R-SC) and is intended to clarify whether independent procurement taxes on insurance purchased from a captive must be paid to the insurer’s home state and to the captive’s domicile.
John M. Foehl Jr., an editor of Captive.com and the Captive Wire, will speak on the topic of “Moving to Generative Governance for Captive Insurance Boards” at the Captive Insurance Council of District of Columbia (CIC-DC) Annual Conference, which is set for October 20-21, 2015, at the Marriott Marquis in Washington, D.C.
Keeping the membership informed is one of the keys to membership retention in a group captive. The OMS National Insurance Company (OMSNIC) risk retention group 2014 annual report is an excellent example of an informative report to the membership.
S.B. 1561, the Captive Insurers Clarification Act, was introduced by Vermont Senator Patrick Leahy and Senator Lindsey Graham and referred to the Senate Banking, Housing and Urban Affairs Committee.
A new Captive Insurance CE Learning Center, featuring online courses on captive insurance and related topics, is now open. Offered as a service of Captive.com, the learning center currently includes one course: Captives as Risk Retention Mechanisms. In July a second course, Property and Casualty Reinsurance Fundamentals, will be included, and a third course, Captives as Risk Transfer Mechanisms, will be added in August.