With no direct feeder system, educators play a key role in top talent finding its way into the captive insurance industry. This article offers the perspective of educators who include captive insurance in their curriculums.
The typical interview increases the likelihood of choosing the best candidate by less than 2 percent versus no interview. This article will increase your knowledge of the best practices necessary to successfully navigate the candidate interview process.
One of the fundamental building blocks of strategic planning, or for that matter an annual tactical plan, is a complete environmental analysis.
As we kick off a new year, those who own, manage, or otherwise work with captives are deciding which of the many alternative captive insurance events they will attend. This article discusses the alternatives in general and offers some insights on how to decide which conference(s) to attend.
The Captive.com-IRMI editorial team, with help from others, put together a 2017 new year’s wish list for your consideration.
Captive.com editor Dan Labrie recently attended Arent Fox law firm’s seminar on “What to Expect from Our New President and Congress.” After hearing the presentation on the President-elect’s promise of comprehensive tax reform, Mr. Labrie made the following observations.
The World Captive Forum Advisory Board has developed an outstanding agenda for the 26th annual World Captive Forum (WCF), to be held January 29–31, 2017, at the Boca Raton Resort & Club, Florida.
Many captive owners are being asked to consider writing cyber-liability coverage in their captives. The idea has been discussed at numerous captive conferences over the last several years. Additionally, there are dozens of articles available on captive vendor websites that explore the possibility. Reading these articles can lead many owners and board members to conclude that cyber-liability coverage is worthy of pursuing.
A.M. Best has downgraded the Financial Strength Rating of Security America Risk Retention Group, Inc. (SARRG), from B++ (Good) to B+ (Good).
Here is a message that needs to be delivered to all those involved in advising, regulating, or legislating tax policy: captive insurance companies are genuine risk management organizations that add value to their owners.
Tax reform is on the agenda not only in the United States but elsewhere in the world, as well. A report of Oxfam, a global antipoverty agency, has joined those calling for corporate tax reform, and the Bermuda Business Development Agency responded quickly.
Rental captives are but one form of a captive insurance company. A captive insurer is an insurance company that is wholly owned and controlled by its insureds; its primary purpose is to insure the risks of its owners, and its insureds benefit from the captive insurer's underwriting profits.
Captive insurance companies and their owners/members, like commercial insurers, face an array of emerging risks. They no longer have the option of just focusing on traditional risks.
Mark Twain (but also attributed to Gideon Tucker) is quoted as having said, "No man's life, liberty or property are safe while the Legislature is in session." This will be especially true when Congress convenes in the new year and considers tax reform. Tax reform was a hot topic during the recent election, and the Republican majority in the House of Representatives is already gearing up to advance some significant changes in Federal tax law.
The National Association of Insurance Commissioners (NAIC) adopted the Risk Management and Own Risk and Solvency Assessment (ORSA) Model Act (#505), which was effective January 1, 2015, for certain large insurers and is required for state insurance department accreditation by January 1, 2018.
Captive insurance association leaders comment on "conference fatigue" as a genuine malady for the captive insurance industry. Is there a solution?
Technology and Insurance: Are You Prepared for the Coming Disruptions? This was the name for the Pinnacle Actuarial Resources, Inc., APEX webinar on December 1, 2016. The hour-long presentation by Christopher M. Holt, ACAS, MAAA, and Legaré W. Gresham, FCAS, MAAA, focused on six new technologies and their ability to disrupt the liability insurance landscape.
The December 2016 issue of "Captive Insurance Company Reports (CICR)" looks at a current hot topic in the captive insurance community—the new ownership requirements for captives that have elected to be taxed under section 831(b) of the Internal Revenue Code—as well as other captive insurance current concerns.
Here are some recent and upcoming events in the captive insurance industry that may be of interest to our readers.
Most captive insurance company owners recognize the role an audit committee plays in the general good governance of their captives. However, with the increase in regulatory scrutiny of financial service firms, the importance of a competent and well-educated audit committee cannot be overstated.