| March
5, 2010: Captive insurance becomes a billion-dollar industry
in Missouri in 2009.
Captive
industry friends on the move: Arthur D. Perschetz, Counsel,
Baker & Daniels, Pioneer in Captive Insurance Joins Law &
Consulting Divisions.
March
2, 2010: A. M. Best Affirms Ratings of Transmonde Services Insurance
Company Limited.
March
1, 2010 Member News: SRS Adds Gordon Breslav to Alternative
Markets Team.
March
1, 2010 Member News: Chartis UK creates new Captive
Practice Group to respond to challenges in the sector.
March
1, 2010 Member News: SRS Expands to Hawaii.
February
25, 2010: Missouri Department of Insurance: Earthquake insurance
market feeling some tremors.
[Editor's Note: This PR is not directly captive related, but the ramifications
cross lines of business so we decided to put it up for you.]
February
24, 2010: A.M. Best Participates in the CICA 2010 International
Conference
February
22, 2010: SIIA Salutes Medical Malpractice Exclusion from House
Bill.
February
18, 2010: A.M. Best Withdraws Ratings of Robert Wood Johnson
University Hospital at Hamilton SAAML
February
18, 2010: SIIA Welcomes Delay in Medicare Secondary Payer Reporting
Rules
February
11, 2010 Domicile News from BestWeek Asia/Pacific: Singapore
Rebounds as Captive Hub After the Global Financial Crisis
News from A.M. Best, February 9, 2010:
In
Memoriam, February 8, 2010: Karen Cutts, Managing
Editor of the Risk Retention Reporter, dies of cancer.
February
1, 2010: A.M. Best Upgrades Ratings of Paratransit Insurance
Company, A Mutual Risk Retention Group.
January
29, 2010: Zurich's Z Zurich Foundation supports the ILO to improve
microinsurance's efficiency and scale.
January
29, 2010: Specialty Risk Services Names David Santschi as Vice
President, Account Management.
IMPORTANT
DOMICILE NEWS, January 25, 2010:
Delaware Insurance Commissioner Karen Weldin Stewart Licenses
World’s First Serial Captive Insurance Company.
January
22, 2010: Guernsey sees near 25% rise in new insurance business.
January
20, 2010: More good member news today: Caledonian Insurance
Services appointed captive manager of Concordis Insurance SPC in
the Cayman Islands.
Breaking
Member News: Artex Acquires Champlain Captive Management.
January
19, 2010: Specialty Risk Services Names Betsy Enloe as Vice
President of Technology.
January
19, 2010: A.M. Best Affirms Ratings of National Grid Insurance
Company (Isle of Man) Ltd..
Important
Domicile News, January 16, 2010: Delaware
Captive Insurance Industry Grows Substantially in 2009. Insurance
Commissioner Karen Weldin Stewart Lauds Efforts of Delaware Insurance
Department’s Bureau of Captive and Financial Insurance Products
and the DCIA.
January
14, 2010: Johnson Lambert & Co. LLP Principal Joshua Partlow,
CPA Appointed to the Vermont Board of Public Accountancy.
January
7, 2010: Vermont’s 2009 Captive Growth Strong Despite
Weak Economy. 39 Captives Licensed Brings Total Licenses Issued
To 878.
January
6, 2010: TOWERS PERRIN AND WATSON WYATT COMPLETE MERGER TO FORM
TOWERS WATSON. [Includes new logo]
January
6, 2010 (submitted by MunichRe America): Johnson & Johnson
Agency to Acquire Sunbelt General Agency From American Modern Insurance
Group.
December
31, 2009: Missouri Insurance Department urges decrease in 2010
workers’ comp rates [includes data table]
December
29, 2009: A.M. Best Removes from Under Review and Affirms Ratings
of AmerInst Insurance Group, Ltd.
December
22, 2009: A. M. Best Withdraws Ratings of Island Capital Ltd.
and Island Capital (Europe) Ltd.
December
21, 2009: Sandy Griffith, CPA Joins Saslow Lufkin & Buggy,
LLP as Senior Audit Manager.
December
21, 2009: Western Region Captive Insurance Conference
announces keynote speaker.
December
21, 2009: Specialty Risk Services Appoints Michael Ryan as Senior
Vice President, Sales and Marketing [Includes photo].
December
18 2009: A.M. Best Assigns Ratings to Grafton (Europe) Insurance
Company Limited.
December
16, 2009: CICA Reveals 2010 Conference Program 'Maximizing
Captive Value' for Alternative Risk Insurance Professionals.
December
14, 2009: FERMA’s Representation Grows; Norwegian Risk
Management Association Becomes Member.
December
15, 2009: European risk managers comment on insurance block
exemption rules. [Downloadable document included in this press release].
Captive.com
member news, December 15, 2009: Bill Deubert Joins Artex. Artex
Risk Solutions is pleased to announce that Bill Deubert has recently
joined the firm as Division Vice President – Sales and will
be specializing in the development of Warehousing and Logistics
related business. [More...]
Captive news from Cayman, December 11, 2009:
December
10, 2009: A.M. Best Affirms Ratings of National Guaranty Insurance
Company of Vermont.
December
10, 2009: Captive insurance regulations could unregulate industry.
New insurance legislation could create an unregulated captive
insurance industry in New Zealand, the New Zealand Captive Insurance
Association says. The Insurance (Prudential Supervision) Bill,
due for its first hearing in Parliament today, would allow foreign
companies setting up insurance subsidiaries in New Zealand to
go unregulated. [To
full article]
December
10, 2009: A.M. Best Comments on the Ratings of Indemnity Insurance
Corporation of DC, Risk Retention Group.
December
8, 2009: Guernsey’s Chief Minister questions onshore/offshore
divide (includes photo)
December
7, 2009: Missouri Department of Insurance reminds title agents:
continuing education now required.
December
7, 2009: New Insurance Legislation Allows Foreign Insurance
Companies to Operate Unregulated.
The New Zealand Captive Insurance Association (NzCIA) supports
the regulation of insurance companies and in particular the development
and progressive regulation of captive insurance companies. Captive.com
will report the results of the December 8 vote on this legislation
as soon as the NzCIA shares it with us. Developing....
December
3, 2009: Missouri Department of Insurance promotes three veterans
to leadership team.
December
1, 2009: A.M. Best Upgrades Ratings of Caring Communities Insurance
Company and Caring Communities, A Reciprocal Risk Retention Group
November
20, 2009: A.M. Best Affirms Ratings of Bison Insurance Company
Limited.
November
19, 2009: A.M. Best to Sponsor Insurance Managers Association
of Cayman’s 2009 Cayman Captive Forum
November
18, 2009: Intermodal Insurance Company RRG declares
cash dividend payable to its 13 member companies.
If approved by the DC Department of Insurance and Securities Regulations,
this will be the second dividend in IIC's 6 years of operation.
November
17, 2009: Munich Re America offers reinsurance product to protect
against natural catastrophe event frequency. Nat Cat Frequency Cover
complements existing catastrophe covers. (Editors note: Product
has applicability to captives)
November
16, 2009 Press Release re Rev Rul 2009-26: IRS provides
long awaited favorable guidance. (Full press release
includes link to full text of Rev Rul 2009-26.)
November 12, 2009, from the 19th World Captive
Forum:
2009 World Captive Forum Announces Award of Excellence Recipient
for Single-Owner Captive. Accolades go to Marias
Falls Insurance, formed in 1984 by DHL International, now part of
Deutsche Post DHL, the world’s largest transport and logistics
company. [To
full PR]
November
6, 2009: A.M. Best Affirms Ratings of Connaught Insurance Company
Limited
November
5, 2009: BERMUDA MONETARY AUTHORITY APPOINTED TO THE EXECUTIVE
COMMITTEE OF THE INTERNATIONAL ASSOCIATION OF INSURANCE SUPERVISORS.
Appointment to association that sets global regulatory standards
for insurance represents milestone for Bermuda.
November
3, 2009: BestWeek Asia/Pacific: Competition Heats Up Among Captive
Domiciles Worldwide
October
29, 2009: GUERNSEY WELCOMES CONCLUSIONS OF THE ‘FOOT REVIEW’.
October
28, 2009: AzCIA Announces New Maple Tech Designed Logo
and Website. The Arizona Captive Insurance Association
(AzCIA), through a collaborative redesign initiative with Maple
Technologies, recently unveiled its new logo design to association
members and today launched its new and improved website...
October
23, 2009: Arizona Captive Insurance Association and Utah Captive
Insurance Association Announce inaugural 2010 Western Captive
Round-up.
October
23, 2009: A.M. Best Affirms Ratings of Prism Assurance, Ltd.
Time
Sensitive Captive Press Release: October
21, 2009 -- Two Weeks Left to Register for Best’s Review Webcast
Examining the Issues Facing Insurance Domiciles
October 19, 2009 -- Two important press releases
from Guernsey:
October
19, 2009: Bermuda Monetary Authority Board Appoints Jeremy Cox
Chief Executive Officer.
October
13, 2009: CIMA Promotes Two as Deputies for Insurance and Policy
Divisions. The Cayman Islands Monetary Authority (CIMA) recently
promoted two staff members to the rank of deputy head of their respective
divisions. Mr. Dwight Merren, former Chief Analyst, Insurance, has
been appointed as the Deputy Head of Insurance Supervision, while
Mr. Francis Arana, former Chief Policy and Development Officer,
is now the Deputy Head of Policy and Development. [Download
full press release]
October
12, 2009: Kentucky and Maple Tech Launch New Website for Captive
Association.
October
8, 2009: A.M. Best Affirms Ratings of Indemnity Insurance Corporation
of DC, RRG.
October
7, 2009: Bermuda Monetary Authority (BMA) Launches E-filing
System for Corporate Registrations. New automated system improves
efficiencies by increasing the speed of processing applications.
October
7, 2009: Lionheart Insurance Group and Crusader Group Holdings
today announced that Michael R. Mead, CPCU, one of the organization’s
Founders, has left the company effective October 1, 2009. Ian Kilpatrick
the other Founder has returned to the role of Chief Executive Officer
of Lionheart Insurance Group. [Download
full article]
October
6, 2009: Utah Captive Insurance Association Holds Annual Meeting.
October
2, 2009: BEECHER CARLSON EXPANDS NATIONAL HEALTHCARE PRACTICE
WITH APPOINTMENT OF FRANK DODERO IN CHICAGO.
October 2, 2009 Member News from Spring
Consulting Group:
October
1, 2009: A.M. Best Named Best Global Rating Agency at the Reactions
Global Awards 2009. Our heartiest congratulations go out to our
friends at A.M. Best on this well-deserved award.
October
1, 2009: A.M. Best Assigns Ratings to Investors Trust Assurance
SPC.
October
1, 2009: Joe Boures Wins 2009 Risk Innovator Award. Specialty
Risk Services is proud to announce that Joe Boures, President, has
been awarded Risk & Insurance magazine’s 2009 Risk Innovators
award. [Full
article]
October
1, 2009: "CAPTIVE" INSURERS SEEN AS TAX BASE. Taking
cue from Vermont, Delaware looks to generate revenue for coffers.
September
29, 2009: Irish International Re/Insurance Market Continues
to Grow. DIMA announces another record year of premium income growth
in its membership.
September
25, 2009: Guernsey retains its ranking as a top tier finance
centre.
September
24, 2009: Guernsey business flows down but far from out. Guernsey
saw reductions in both banking and investment funds business in
Q3 but the island is faring much better than some of its competitors.
September
22, 2009: A.M. Best Affirms Ratings of Rembrandt Insurance Company,
Ltd.
September
18, 2009: SIIA Letter to Sen. Baucus Lists Four Self-Insurers’
Objections to Health Bill.
September
16, 2009: Cayman Islands on OECD Global Forum Steering Group.
September
16, 2009: Guernsey will not need a ‘bail out’ from
the UK taxpayer.
September
15, 2009: Guernsey ramps up promotion to capitalise on ‘recovery’.
ASSOCIATION NEWS,
August 9, 2009: VCIA
Selects New Leader to Succeed Molly Lambert. Following
an extensive national search, the Board of Directors of the Vermont
Captive Insurance Association (VCIA) is pleased to announce that
Richard Smith of East Montpelier, Vermont has been selected as the
new President of the Association. [To
full press release]
September
1, 2009: A.M. Best Affirms Ratings of United Insurance Company
and Its Subsidiary.
Legislative
Update, August 31, 2009:: System
Covering 160 Million Threatened by House Bill. SIIA Cites
10 Impacts on Employer-Based Health Plans
Domicile News, August 28, 2009: Gennet Purcell
appointed to serve as Commissioner of the Department of Insurance,
Securities and Banking for the District of Columbia.
August
28, 2009: Kilpatrick Stockton LLP Adds Two Leading Policyholder
Insurance Coverage Partners. Barry Fleishman and Erica Dominitz
Join Firm’s Washington, DC Office [photos included].
August
21, 2009: RIMS member and Goodell Award winner joins FERMA board.
Jorge Luzzi also current Executive Director of Pirco (Pirelli Reinsurance
Company Limited) in Dublin, Ireland. [Photo included]
August
18, 2009: A.M. Best’s Captive Market Webcast Video and
Transcript Available.
August
18, 2009 -- from FERMA: Contingent commission arguments resurface.
August
7, 2009: A.M. Best Withdraws Ratings of White Mountain Insurance
Company.
August
7, 2009: A.M. Best Affirms Ratings of Transportation Property
& Casualty Company Inc.
Aug.
5, 2009 -- Additional Specifics and Commentary on Delaware's New
Bureau from the DCIA: Delaware Captive Insurance Association
Applauds Establishment of Captive Bureau And Appointment of Steve
Kinion as the Bureau’s Director. Enhanced competitiveness
will help state attract new business, industry association says.
August
5, 2009: INSURANCE COMMISSIONER STEWART PLOTS COURSE FOR NEW
CAPTIVE AND FINANCIAL PRODUCTS BUREAU.
August
4, 2009: Munich Re America appoints John Vasturia President
of Regional Clients.
August
3, 2009: EMI SWAIM JOINS SUBSIDIARY OF FIRST INSURANCE COMPANY
OF HAWAII AS CAPTIVE INSURANCE MANAGER. [Includes photo]
July 29, 2009 A.M. Best Captive Ratings Press Releases:
July
27, 2009: COMM. STEWART LAUDS CHANCERY COURT’S DECISION
TO AFFIRM FORMER COMMISSIONER DENN’S ORDERS FURTHER REDUCING
WORKERS’ COMPENSATION RATES. DELAWARE BUSINESSES TO SAVE MILLIONS
OF DOLLARS. Stewart Credits DOI Legal Team’s Successful Defense
of Lt Governor Denn’s Prior Orders.July
22, 2009: USA Risk Group Promotes Paul Macey to President of
USA Risk Group (Cayman), Ltd.
July
21, 2009: Guernsey signs TIEA with New Zealand. [includes photo]
July 13, 2009 Captive Ratings Press Releases:
July
13, 2009: SEDGWICK CMS CLINICAL CONSULTATION SERVICE IMPROVES
WORKPLACE INJURY RESPONSE.
July
13, 2009: BERMUDA MONETARY AUTHORITY SETS APPLICATIONS PROCESS
AND STANDARDS FOR INTERNAL CAPITAL MODELS,MOVES FORWARD ON TRANSPARENCY
PROPOSALS. Milestone is another step forward in preparing Bermuda
for regulatory equivalence.
July
8, 2009: Wilmington Trust Adds Insurance-Product Expertise to
Capital Markets Group. Team opens new Michigan office, extends capabilities
in Corporate Client Services business.
July
8, 2009: A.M. Best Comments on Ratings of American Safety Insurance
Group Following Acquisition
July
2, 2009: BEECHER CARLSON ADDS KEVIN GRADY IN NASHVILLE. Appointment
Supports Beecher Carlson’s Focus to Systematically Pinpoint
and Quantify Casualty Cost of Risk Reductions Using Innovative Analytical-Driven
Methodology.
July
1, 2009: A.M. Best Withdraws Ratings of American Feed Industry
Insurance Company Risk Retention Group, Inc.
Breaking
Member News: June 29, 2009 -- TOWERS PERRIN AND WATSON
WYATT TO COMBINE TO FORM TOWERS WATSON. Combined Company
Positioned for Sustainable Growth and Profitability with a Broader
Portfolio and Wider Geographic Footprint.
June
26, 2009: BERMUDA MONETARY AUTHORITY APPROVED AS SIGNATORY TO
NEW COOPERATION AGREEMENT FOR INTERNATIONAL INSURANCE REGULATION.
Bermuda in first round of Jurisdictions to Sign the International
Association of Insurance Supervisors Multi-lateral Memorandum of
Understanding. Also see accompanying photo.
June 24, 2009 Captive Ratings Press Releases:
June 23, 2009 Captive Ratings Press Releases:
June
21, 2009: A.M. Best Removes From Under Review and Affirms Ratings
of BancInsure, Inc.
June
19, 2009: Johnson Lambert & Co. LLP Announces Plans to Open
a Chicago Office and the Admission of a New Partner, Brad Diericx.
June
17. 2009: A.M. Best Affirms Ratings of The American Road Insurance
Company.
June
16, 2009: Arizona Captive Insurance Association Announces New
2009-10 Officers And Winner of the Crystal Cactus Award.
June
12, 2009: A.M. Best Affirms Rating of Toyota Motor Insurance
Company.
June
12, 2009: Peter Den Dekker Elected President of the Federation
of European Risk Management Associations (FERMA).
June
11, 2009: A.M. Best Affirms Ratings of Dorinco Reinsurance Company.
June
10, 2009: Insurance licence applications on the rise in Guernsey.
June
9, 2009: Commendable Performance By Insurance Asset Managers
In 2008.
June
5, 2009: A.M. Best Revises Outlook to Positive for Elwood Insurance
Limited.
June
3, 2009: A.M. Best Releases Interactive 2008 World Catastrophe
Map Online.
June 3, 2009: Insurers
Respond to Credit Crisis with Renewed Emphasis on Risk Management
June 2, 2009:
Willis Names Boughner to Head North American Captive Management
Practice.
May 29, 2009 A.M. Best Captive Ratings:
May
29, 2009: Governor Douglas Signs Legislation to Build on Vermont’s
Lead in the Captive Insurance Industry.
May
28, 2009: Guernsey’s Chief Minister briefs leading UK
MPs [includes photo]
May
28, 2009: A.M. Best to Participate in 12th European Captive
Rendezvous Luxembourg and Host Captive Ratings Briefing
May
28, 2009: A.M. Best Upgrades Issuer Credit Rating of The Catholic
Relief Insurance Company of America
May
26, 2009: Barbican story sparks interest in Guernsey for reinsurance.
May
21, 2009: Isle of Man Captive industry “bullish”
regarding the prospects for the captive sector.
May 20, 2009 Captive Ratings Press Releases from A.M. Best
May
15, 2009: Paul Macey Appointed President of USA Risk Group (Cayman),
Ltd.
May
15, 2009: Zurich North American Commercial announces new Risk
Retention Groups, Self Insurance Group and Pooling Capability. [This
announcement was made at the Arizona
Captive Insurance Conference in Phoenix. Slides from all presentations
are now availalble from the AzCIA website.]
May
14, 2009: A.M. Best Affirms Ratings of Eastern Re Ltd. S.P.C.
May
14, 2009: Delegation enhances Guernsey’s reputation in
Washington.
May
13, 2009: Montana Captive Domicile Report Now Available.
May
11, 2009: Guernsey seminar proves catalyst for captive interest.
May
4, 2009: A.M. Best Places Ratings of Chrysler Insurance Company
Under Review With Negative Implications.
May
1, 2009: ‘White listing’ gives Guernsey an edge
in China
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