Captives writing medical professional liability (MPL) coverage should read the new study, “Medical Malpractice Reform: Noneconomic Damage Caps Reduced Payments 15 Percent with Varied Effects by Specialty,” which was released by Health Affairs.
Medical stop loss coverage by self-funded insurers is becoming a hot issue, Self-Insurance Institute of America (SIIA) President Michael Ferguson has recently been quoted as saying. This topic warrants an increased focus on captives providing stop loss coverage and self-insured employers that provide medical coverage.
The Cayman Islands is the leading jurisdiction for health care captives, with health care captives representing 34 percent of all captives domiciled in the Cayman Islands, according to a report by the Cayman Islands Monetary Authority as of September 30, 2014.
The Captive Insurance Basics section of Captive.com has been updated and expanded with three informative articles on fundamentals of captives. Also, a new and more comprehensive captive glossary has been added.
The insurance sector did not cause the 2007-2008 economic crisis, regulators agreed, but it was pointed out to participants in the recent ICMIF Regulatory Issues Leaders Forum that the global financial crisis did demonstrate how inextricably linked the insurance sector is to the financial services sector as a whole.
The number of risk retention groups has declined by more than 5 percent in 2014, according to a recent report on the Risk Retention Reporter website.
The Board of Guernsey Finance has appointed Dominic Wheatley chief executive of Guernsey Finance effective December 1, 2014.
The Organization for Economic Cooperation and Development (OECD) plan for tax base erosion and profit shifting is already affecting corporations, even though implementing the recommendations will be challenging, according to the speakers at last week’s Captive Insurance Companies Association (CICA) seminar on transfer pricing.
A report on the Vermont Captive Insurance Association (VCIA) conference, insights into London & Capital's captive indices and self-procured insurance tax in Illinois, and a captive case study are available in the October 2014 issue of Captive Insurance Company Reports (CICR).