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The July Captive Insurance Company Reports highlights are in. This issue features some of the key results from the 2009 CICA Survey. Highlights of that article are by no means all you'll find in this month's headlines, though. Take a look under the hood of this issue from the IRMI NewsRack or our Captive Headlines pages.

This month's issue is a prime example demonstrating why anybody with an interest in captives needs a subscription to CICR. Subscribe to this indispensable newsletter as well as several other IRMI publications right from the captive.com secure server.

Member Press Release: 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.

Captive.com wishes to thank Bermuda's Royal Gazette for giving us permission to post their series of informative articles on the recent Bermuda Captive Conference. Links are available on the News/Library page.

David Fox tells us that, despite the record-breaking rain in Bermuda persisting throughout much of the conference week, this event was a successful one indeed. We were assured that the rain cleared out just in time for the golf tournament too! Whereas some conferences have seen lower attendance due to economic pressures, this event boasted over 420 delegates, with more than 65 captive owners and other risk managers participating. Sessions were well attended, and followed up with numerous positive feedback about the value and quality of all session content, including both the regular sessions and the special healthcare track organized and delivered by ASHRM. Don't miss the Royal Gazette's articles, summarizing several important presentations.

Breaking Member News: 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.

This is exciting news for our industry. Captive.com congratulates our colleagues at Towers Perrin and Watson Wyatt on their merger. Watch captive.com for additional information as this merger unfolds.

For additional information, follow this link to Wall Street Journal's perspective on the merger.

The New Zealand Captive Insurance Association (NzCIA) recently posted 3 articles on its web site in the news section. The articles cover

1. Ernst & Young commentary on Accounting Standards
2. NZCIA submission on the Draft Insurance (Prudential Supervision) Bill
3. Chris Peace article on the Draft Insurance (Prudential Supervision) Bill.

[To NzCIA website}

Domicile/Regulatory News: 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. The individuals featured in the photo are, from left to right:

• Axel Oster representing the Federal Financial Supervisory Authority (BaFin) of Germany;
• Chairman Sean C. Chen of the Financial Supervisory Commission of Chinese Taipei;
• Peter Braumüller, Chairman of the International Association of Insurance Supervisors Executive Committee; and
• Matthew Elderfield, Chief Executive Officer of the Bermuda Monetary Authority.

Please note revised address and contact information for Physicians' Reciprocal Insurers (PRI), a professional liability facility for doctors, hospitals and healthcare facilities, found in the captive.com Group & Rental Captives area. PRI insures over 12,500 New York medical professionals, and has been doing so for over 25 years.

While you're on their captive.com summary page, be sure to follow the link to PRI's freshly-updated website!

New to the popular Newsletters page in the News/Library, you can now view the 2009/2 edition of Towers Perrin's Emphasis online Magazine.

What's inside the current issue? As the story goes, in 1637, a single rare tulip bulb could be sold for a value equivalent to a rich merchant's annual income. But good fortune required that you determine which bulbs held the potential for high and sustainable value. In insurance and risk management, enterprise risk management, economic capital and other emerging risk management tools help determine which risks to accept and which to avoid by identifying the factors driving risk and reward. Embedding ERM in business decision making across the organization helps to select risks with sustainable value for insurers' desired risk "baskets."

The initial series of articles will bring you up to date on ERM issues. This newsletter also contains helpful articles on P&C and Reinsurance. We know you will enjoy it! Captive.com would describe this publication as a "newsletter on steroids." We love it!.

Check it out now from the Towers Perrin website, or if you would like to read the newsletter using the latest technology, use this link.

Captive Ratings Press Releases:

• A.M. Best Affirms Ratings of Agrinational Insurance Company
• A.M. Best Revises Outlook to Positive and Affirms Ratings of Intrepid Insurance Company

Links to archived press releases may be found in the Press Releases section of the News/Library page.

Captive Ratings Press Releases:

• A.M. Best Affirms Ratings of Heddington Insurance Limited
• A.M. Best Affirms Ratings of Iron Horse Insurance Company

Vermont's captive legislation and regulations have a new web address. See the Domicile Showcase for these fast links and many more.

Captive.com sends its thanks to Wilmington Trust for sponsoring our ever-expanding Domicile content

"In March, 2009, the National Association of Insurance Commissioners (NAIC) approved an annual Insurer Climate Risk Disclosure Survey, making it mandatory for insers with annual premiums of $500 million or more to disclose t heir risks and strategies relating to climate change. The initial reporting deadline is May 1, 2010. Voluntary submissions from smaller insurers are also encouraged."

Download this timely article entitled, "Mandatory Climate Change Reporting for Insurers" from the Highlight menu of the popular Milliman captive website.

Member News: Johnson Lambert & Co. LLP Announces Plans to Open a Chicago Office and the Admission of a New Partner, Brad Diericx.

Congratulations to Johnson Lambert on their continued growth!

Our newest member, Strategic Risk Solutions ("SRS") has been an industry leader in providing education to the captive community for some time. Yesterday, SRS hosted a popular webinar entitled "Surviving in a Tough Market – A Group Captive Case Study," featuring another captive.com Group and Rental Captives member, CS Insurance.

We are pleased to offer direct links to the recorded version of this event from both the Learning Center and the CS Insurance pages. You can view past SRS webinars too. That link is available from the SRS Data Sheet. SRS webinars are complimentary, but registration is required prior to viewing them.

Captive.com is delighted to welcome our newest sponsoring member, Strategic Risk Solutions ("SRS").

SRS is a leading independent captive management firm, founded in 1993 and independently owned by senior management since 2002. With offices in Arizona, Bermuda, Cayman Islands, South Carolina, Vermont and Boston, SRS is staffed both onshore and offshore. SRS has experience in managing all types of captive facilities including Single Parent Captives, Group Captives, Risk Retention Groups, Segregated Cell – Sponsored Captives, Branch Captives, Not-For-Profit Captives and Special Purpose Captives across multiple sectors.

The company is also committed to education for the captive community, and hosts frequent webinars that we will be sure to announce here.

Learn about SRS's services to the industry from their Data Sheet, accessible from the Business Members pull-down menu at the top of our navigation bar on this page as well as from the "Links to Member Websites" link that you'll find on all internal captive.com pages. To quickly find a telephone number or e-mail link for Brady Young, click through to SRS's ad in the Captive Yellow Pages.

Another updated item in the Captive.com Store is the new sample issue of Captive Insurance Company Reports (CICR)! As always, IRMI is delighted to give you an opportunity to kick the tires before you buy via a recent sample issue of this outstanding publication. This issue's lead story is entitled Debunking EB Captive Formation Myths. There's much more too, including an article written by CICR's Editor Emeritus, Hugh Rosenbaum, entitled Is There a Captive Bubble? Hugh's article is followed up by SRS's Brady Young, who offered a few thoughts of his own on this topic. This is a lively sample issue that we think you will enjoy!

Links to a PDF version of the June 2009 CICR may be found on the IRMI NewsRack or our Captive Headlines pages.

New to the Captive Headlines page in the News/Library, have a look at what's inside the June issue of Risk Retention Reporter. These are just the headlines, folks. To read these articles and more, subscribe to the Risk Retention Reporter from the captive.com Secure Server.

Congratulations to an old friend, Ham Smythe, CEO of Paratransit RRG, who is recognized in this issue as June's RRG CEO of the month!