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"Captive Reinsurance Pools … Where's My Money?"

As the number of captives, captive managers, and risk distribution (reinsurance) pools continues to grow rapidly, the opportunity for a scandal in the captive industry also grows, a commentary by James Landis recently published on the Insurance Thought Leadership website asserts.
June 17, 2014 Read More
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Should You Consider Writing Cyberrisk Coverage through Your Captive?

Cyberrisk is a hot topic at captive conferences, and a panel of experts at the Connecticut Captive Insurance Association’s annual Symposium on Captive Insurance provided a great overview of this expanding risk. Leon Pintsov, CEO of SignitSure Company, moderated the panel. He stated, “No statistical stability exists for the cyber risk,” making it difficult to underwrite.
September 19, 2014 Read More
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Underwriting Note: Another State Invalidates Caps on Some Punitive Damages

Last week a 7-0 Missouri Supreme Court decision invalidated the state cap on some punitive damages. The supreme court restored the judgment of a lower court because the plaintiff had filed a claim as a common law fraud, which existed in Missouri since the first state constitution was written.
September 17, 2014 Read More
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Captive Insurer Clarification Act Would Correct Unintended Consequences of NRRA

In July 2014 Senator Patrick Leahy (D-VT) introduced Senate Bill 2796, which would clarify the definition of nonadmitted insurer under the Nonadmitted and Reinsurance Reform Act (NRRA) of 2010. The legislation is cosponsored by Senator Lindsey Graham (R-SC).
September 04, 2014 Read More
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6-Month 2014 Reinsurers’ Statutory Results Report

The 6-month combined ratio for a group of 18 U.S. property-casualty reinsurers was 92.3 percent, according to a survey of the Reinsurance Association of America. The combined ratio was composed of a 73.7 percent loss ratio and an expense ratio of 18.6 percent.
August 26, 2014 Read More

Should You Consider Writing Cyberrisk Coverage through Your Captive?

P1060299 (2) 
Cyberrisk is a hot topic at captive conferences, and a panel of experts at the Connecticut Captive Insurance Association’s annual Symposium on Captive Insurance provided a great overview of this expanding risk. Leon Pintsov, CEO of SignitSure Company, moderated the panel. He stated, “No statistical stability exists for the cyber risk,” making it difficult to underwrite.
September 19, 2014 Read More

Connecticut Captive Insurance Association (CCIA) Symposium a Success

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The air was filled with optimism at the Connecticut Captive Insurance Association (CCIA) Symposium at what Anne Melissa Dowling, deputy commissioner of the Connecticut Insurance Department, described as the “Thinking Persons’ Domicile.”
September 18, 2014 Read More

Underwriting Note: Another State Invalidates Caps on Some Punitive Damages

Supreme-Court-building-permission 
Last week a 7-0 Missouri Supreme Court decision invalidated the state cap on some punitive damages. The supreme court restored the judgment of a lower court because the plaintiff had filed a claim as a common law fraud, which existed in Missouri since the first state constitution was written.
September 17, 2014 Read More

The Rise in Indemnity-Triggered Catastrophe Bonds and Differences with Traditional Treaties

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The Intelligent Insurer website features an article on the rise in the number indemnity insurance-linked securities. “Going back only a couple of years, less than 50 percent were indemnity deals ...,” according to Michael Madigan, head of the property and casualty alternative risk transfer practice of Sidley Austin in New York.
September 16, 2014 Read More

Captive Manager Confirms IRS Review of 831(b) Captives

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IRS is currently reviewing numerous captive insurance companies that are operating under Section 831(b) of the Internal Revenue Service Code and as many as a dozen captive managers may be involved according to David McManus, President of Artex Risk Solutions.
September 15, 2014 Read More

Connecticut and Missouri Hold Captive Conferences Next Week

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This is a reminder the Connecticut Captive Insurance Association (CCIA) and the Missouri Captive Insurance Association (MOCIA) will hold their conferences next week on September 17 and 18, respectively.
September 12, 2014 Read More

Preliminary Agenda for the 2014 Cayman Captive Forum, December 2-4, Now Available

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The preliminary agenda for the 2014 Cayman Captive Forum, scheduled for December 2-4, is now available.
September 11, 2014 Read More

Best’s Special Report Compares Single-Parent Captives and Commercial Lines

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Best’s Special Report on U.S. Captive Insurance published in August 2014 includes a section comparing the performance of single-parent U.S. captives with the commercial market.
September 11, 2014 Read More