An article on hedgeweek.com yesterday points to a unique use of protected cell captives in Guernsey. The author, Joe Truelove of the Carey Group, points to the use of protected cells for fund and non-fund structures, including umbrella funds of private wealth management, investment managers offering a series of differing strategies, and co-investment vehicles for private equity or real estate transactions. The opportunities and variations seem limitless.
The second annual meeting of the Texas Captive Insurance Association (TxCIA) in Austin sported a lively group of active captive practitioners, captive owners, and prospective captive owners. Approximately 110 people attended, which was approximately the same as last year. TxCIA representatives were pleased with this attendance level and delighted that 55 people attended the optional “Captives 101 Workshop,” since their goal was to have at least 10 people attend it.
Guy Carpenter released its annual "Global Catastrophe Review" on Wednesday, saying the very quiet 2014 CAT season totaled only $33 billion. This figure is down slightly from 2013 at $40 billion, giving the reinsurance industry a respite from the heavy losses in 2011. The report further breaks down the catastrophes in each of the populated continents.
Proposed legislation in Tennessee would allow certain qualified employers to provide injury coverage to employees through a self-funded benefit plan instead of purchasing coverage through the commercial insurance market.
As commercial use of drones grows, so does interest in whether drone liability and/or property damage will be a future captive coverage. How the government decides to regulate drones is an important step in answering this question.
Looking for a solution to the high cost of health insurance? Here is a brief description of how a group of New England higher-education institutions developed an innovative approach and achieved savings.
The Delaware Department of Insurance issued a press release outlining its success in 2014. Insurance Commissioner Karen Weldin Stewart stated, “I am very pleased that the captive program continues to grow. This program provides economic opportunities for my constituents and much needed revenue for the state.”
How many times have you as a captive board member, executive, or manager wished you had access to an insurance or risk management term? International Risk Management Institute, Inc. (IRMI), Captive.com’s owner, has developed an application for your Android or Apple device. The application is called Glossarisk. It provides definitions of more than 5,000 insurance terms, abbreviations, and acronyms.
Whether captive insurers are making 831(b) elections as "dirty" as the Internal Revenue Service (IRS) thinks is the issue Robert J. Walling III, principal at Pinnacle Actuarial Resources, Inc., addressed in a recent blog post. It is reprinted here with permission.