On Thursday, November 26, 2015, Thanksgiving Day will be celebrated in the United States. Captive.com and Captive Wire will be pausing to observe the holiday.
The key role captives can play in helping businesses protect against the potentially extensive damage a reputational occurrence can cause was the topic of a recent Delaware Captive Insurance Association (DCIA) 2015 Fall Forum presentation.
An opportunity to comment on proposed changes to the National Association of Insurance Commissioners (NAIC) Credit for Reinsurance Model Act has been extended, and those who could be affected are encouraged to take advantage. "It is important that the captive insurance industry remain vigilant in monitoring and sharing their views on the proposed changes to the model NAIC Credit for Reinsurance Act," urged Steve Kinion, director of the Delaware Bureau of Captive and Financial Insurance Products.
A.M. Best has affirmed, according to a press release, the financial strength rating (FSR) of A (Excellent) and the issuer credit ratings (ICR) of "a" of Housing Authority Property Insurance, A Mutual Company (HAPI); Housing Authority Risk Retention Group, Inc. (HARRG); and their jointly owned subsidiary, Housing Enterprise Insurance Company, Inc. (all members of and together known as the HAI Group). The outlook for these ratings is stable.
The HealthCap RRG (Health Care Industry Liability Reciprocal Insurance Company, RRG) Financial Stability Rating of A, Exceptional, has been affirmed by Demotech, Inc.
Video interviews included in A.M. BestTV special conference coverage from the recent Delaware Captive Insurance Association 2015 Fall Forum focus on issues related to the continuing growth of small "enterprise risk captives."
The upcoming Cayman Captive Forum 2015, with 99 industry practitioners and experts speaking and serving as panelists at 34 informative and educational sessions, is expected to offer attendees a great deal of useful information to take away.
Two recent captive insurance educational opportunities collectively provided participants with some excellent insights on best practices for captives formed for risk management purposes that seek 831(b) tax status and how the Internal Revenue Service (IRS) is attacking what it believes is abusive use of an 831(b) tax structure.
Proposed changes to the National Association of Insurance Commissioners (NAIC) Credit for Reinsurance Model Act could have a detrimental impact on employers that choose to self-insure medical risks and potentially other captive fronted coverage.