November 21, 2011: Best's Special Report, Middle East and North Africa: Protests Alter Forecasts for Premium Growth in MENA.

"The Arab Spring of 2011 has altered insurers’ prospects throughout the Middle East and North Africa (MENA). Political unrest can have direct effects on the insurance industry, including premium flows and a higher incidence of claims..." [Download full report]

July 27, 2011: A.M. Best Special Report: Levant Non-Life & Life Market Review: Jordan and Lebanon Lead Growth In Levant Region's Insurance Markets. Posted with permission from our friends at A.M. Best.

October 11 2010: Best's Special Report: European Captive Insurance - 2010 Market Review

August 3, 2009: Best's Special Report: U.S. Captive Insurance - 2008 Market Review. Also see brief highlights of this report.

July 29, 2009, Best's Special Report: European Captives -- A Growth Market During a Challenging Time? . Reprinted with Permission.

January 7, 2010: Chris Kramer, hailing from Atlas Insurance Management, recently published an interesting article entitled, "Captives Fuel Growth and Income for Agency Owners," in the Insurance Journal. Captive.com wishes to thank Insurance Journal for their kind permission to link to Chris's article. Excerpt follows:

"In times like these, where the insurance industry is now in its fifth year of a soft market, the use of an agency captive insurance company can spark both revenue and profits to improve an agency’s overall financial performance. The agency captive may also provide the owners a better return than a profit sharing agreement..." [To full article]

More Atlas articles are available from their website Article Index page.

Captive.com

Special publications and articles

• January 4, 2012: Reprinted with kind permission of Risk Retention Reporter, download a timely article by Steve Kinion, Director of the Bureau for Captive and Financial Insurance Products, Delaware Department of Insurance, originally written for the December 2011 Edition of Risk Retention Reporter entitled, "Corporate Governance Standards for Risk Retention Groups: State Expertise vs. Federal Inexperience -- Fixing What Is Not Broken."
  
  [For your convenience, you can subscribe all Risk Retention Reporter publications online from captive.com's secure server!] Also, be sure to visit the Risk Retention Reporter website at www.rrr.com.
  
  
• December 20, 2010: We just posted a fine article written and shared with us by Ed Ianni, who currently serves as the director of strategic development for the State of Delaware Department of Insurance. This article was first published in the current issue of Voluntary Benefits Magazine.. Innovation at Work: Employers Creating Their Own Captive Insurers describes the evolving crossroads of benefits, captive risk management and capital planning. Ed articulates clearly and precisely how the Series LLC captive structure available in Delaware can become a powerful tool for the captive owner.
  
  
• September 22, 2010: The Delaware Advantage by Ed Ianni. This article appeared in the July 2010 edition of Captive Review. Captive.com is grateful to our friends at Captive Review for allowing us to share this article with our readers.
  
  The article discusses the unique synergy of captive risk management, trust and estate planning and family and business capital planning, utilizing some of the exportable Delaware advantages.  As you may know, when one surveys the laws of all 50 states, one understands that no state, other than Delaware, offers all of the trust, tax, captive risk management, legal, asset protection, business entity, capital management, financial, regulatory, corporate governance and structural benefits, which are collectively regarded as “the Delaware advantages.” 
  
  This is one of the new frontiers in the converging space of captive risk management, business capital strategy and trusts-and-estates.  This interdisciplinary approach differentiates Delaware as an attractive, value-adding domicile; and businesses and families across the country and abroad are increasingly finding these strategic solutions especially valuable in this challenging economic environment. 

• 3 articles posted March 2009, all reprinted with the kind permission of IRMI. Visit the IRMI page in the Captive.com store to purchase CICR, Risk Financing, and other fine IRMI publications from the Captive.com secure server:
  • IRS Weighs in on Cell Captives by Bruce Wright
  • IRS Guidance: FET Applies on a Cascading Basis by Bruce Wright and Kristan Rizzolo
  • Effects of Proposed IRS Regulation on Tax Benefits Of Captives by Bruce Wright and Kristan Rizzolo
• DOL Issues Proposed Exemption on Funding Benefits Through A Captive
• The Rules of Insuring Employee Benefits in Captives
• Potential Impact of the Chubb/Hartford Tax Proposal on Risk Retention Groups and Other Group Captives
• Purchasing Insurance from Unlicensed Insurers

"Hugh's Views" Editorial Newsletters by Hugh Rosenbaum...always controversial, always respected, and NEVER boring!

• Issue 17, May 2011: Hugh's Views from the SRS Symposium -- What the Industry Could Learn from Captives.
• Issue 16, April 2009: What is good regulation? (Part 1 of a 3-part captive.com series on hot regulatory issues!)
• Issue 15, October 2007: Allocation: A Captive Specialty.
• Issue 14, July 2007: Hugh’s Reflections on Captive Value Added From the UK.
• Issue 13, November 2006: Hugh’s views on the IAIS’ Issues Paper on the Regulation and Supervision of Captive Insurance Companies.
• Issue 12, April 2006: Hugh's Views on Accreditation For Captives -- The First Steps
• Issue 11, February, 2005: Hugh's Views on Reinsurance
• Issue 10, May, 2004: Hugh's Views on the Section 232 Kefuffle
• Issue 9, October, 2003: Hugh's Views on The “Capital Tied up in Captives”
• Issue 8, July, 2003: Hugh's Views on Offshore Domiciles
• Issue 7, May, 2003: Hugh's Views on Agency Captives
• Issue 6, December, 2002: Hugh's Views From Charleston
• Issue 5, November, 2002: Don't Say "Yes" to Captives in the Federal Terrorism Program
• Issue 4, August, 2002: Hugh's Views on D&O Insurance in Captives
• Issue 3, March, 2002: Guarantees and Captives, Part 2
• Issue 2, December, 2001: Guarantees and Captives.
• Issue 1, October, 2001: Hugh comments on some of the crises facing captive owners, and suggests some usual and unusual solutions to them.

May 24, 2011: IMAC News - Special Cayman Islands Report: AR Magazine: Top Hedge Fund Habitat

March 17, 2010: Key Themes from the 2009 Cayman Captive forum -- Captive Insurance in the Cayman Islands: Stability in a world of uncertainty. In continued support of the successful Cayman Captive Forum, this successful event's main sponsor, -- KPMG -- has kindly provided a highlights brochure covering the key themes of the 2009 conference. The publication provides an overview of key topics for all to read and for those who attended, a useful reminder of the discussions and educational topics that took place. Should anyone require a hardcopy of the brochure, please e-mail Dara Keogh at KPMG darakeogh@kpmg.ky.

April 14, 2010: Alex McCallum from Insurance Asset Manager has shared the following article with captive.com visitors: A Standout Year In 2009 For Insurance Asset Managers.

"Initial results of Insurance Asset Manager’s (IAM) first survey of 2010 show that US managers of outsourced insurance company assets enjoyed an excellent year in 2009 -- and BlackRock outpaced long-time leader Deutsche Insurance Asset Management to take first place in IAM's rankings..." [Full story]

IRS Weighs in on Cell Captives by Bruce Wright

IRS Guidance: FET Applies on a Cascading Basis by Bruce Wright and Kristan Rizzolo

Effects of Proposed IRS Regulation on Tax Benefits Of Captives by Bruce Wright and Kristan Rizzolo

• March 30, 2011: Foreign Asset Reporting -- a helpful article written by Gary Bowers, CPA, Partner and John Huskins, CPA, Senior Associate of Johnson Lambert.

  "With the beginning of the year full of extensions and estimates, it’s important to not overlook the foreign account reporting requirements imposed by the Treasury Department and the Internal Revenue Service..." [To full story on JLCO website] or [Download printable pdf]

• SAS 70: A Strategic Advantage in Challenging Times. This timely article explores the benefits of a SAS 70 audit through improving your company's efficiency, using practical examples of precisely what bogs us all down. [Also available for download in printable PDF.] (posted April 2009)
• Economic family doctrine isn’t really dead (Proposed taxation treatment for certain types captives, posted October 2, 2007)
• Johnson Lambert's Guide to Captive Insurance In Vermont (Summer 2003 Update)
• Reinsurance Review: Check this out to learn the reinsurance ropes! (2002)
• Association Captives: Renewed Interest in an Old Concept (2002)
• What's Up Front: A Guide to Fronting Arrangements (2002)

Full Menu of Monte's articles

View the CICR Index for 1988 - December 2009 in searchable PDF to locate the feature article entitled "Protecting the Captive's Directors And Officers" written by Monte Jahnke.

Corporate Governance: Navigating a New Channel: A presentation by Monte Jahnke (Kerr, Russell & Weber), Steve Scammel (Towers-Perrin/CICR), Debbie Lambert (Johnson Lambert), and Alan Fleming (Guernsey Regulator)

PowerPoint Presentation by Monte Jahnke: Captive Governance in a Post-Enron World, from the 6th Annual International Captives Congress, June 2002

Now available: PDF version of Monte's Captive Governance article based on this presentation, reprinted with permission from the November 2002 issue of Captive Insurance Company Reports (CICR).

July 2005: Recently, the IRS analyzed 4 hypothetical captive arrangements and concluded that 3 of the 4 lacked risk distribution, a hallmark of “insurance” status. The ruling that clarified this issue was Rev Rul 2005-40.

We asked Tom Jones of McDermott, Will & Emery -- one of captive.com's favorite taxation experts -- to help us explain the impact of this ruling. You can now download Tom's outstanding PowerPoint presentation for his clear, concise insight. For future reference, the link to this presentation will be available from the Learning Center.

Timely article from Tom Jones, along with full IRS pronouncements: New IRS Rulings Clarify Captive Taxation. Captive.com wishes to thank CICA and Tom Jones for sharing this outstanding information.

INDEPENDENTLY PROCURED INSURANCE--TODD SHIPYARDS SAILS ON (April 19, 2002)

Summary of IRS Revenue Ruling 2001-31 and its implications for future captive structures.

• To Milliman's rich index of captive articles and newsletters
• Healthcare Reform - Potential Opportunities for Captives.
• What is a "Reciprocal" or "Reciprocal RRG"?

10/14/2010: Jeanne Braun, executive vice-president with Physicians’ Reciprocal Insurers in New York, talks to Captive Review about the future of healthcare insurance in the US in this timely interview entitled All in the Balance. Reprinted with kind permission from our friends at Captive Review.

10/7/1009 from Captive Review's Healthcare Guide 2009: Approach with caution. Jeanne Braun of Physicians’ Reciprocal Insurers believes doctor groups and hospitals can benefit from a feasibility study before deciding to set up a captive. Copyright© Captive Review. Reprinted with permission.

March 5, 2008: 25 Years of Stability in Medical Malpractice. Physicians Reciprocal Exchange stresses risk control for doctors & hospitals; adds captive by Michael J. Moody MBA, ARM, and lots of input from Jeanne Braun, Executive Vice President, Hospitals and Special Programs. This is a great success story that you won't want to miss! Copyright © The Rough Notes Company, Inc. Reprinted with permission.

An Extremely Exclusive Practice: With the benefits of Medical Malpractice Captives becoming ever clearer, Physicians' Reciprocal Insurers' (PRI) Jeanne Braun explains the process involved in setting up an offshore rent-a-captive as well as the advantages of concentrating on just one area of risk. (Posted June 2002)

"...In parallel, the three GCC domiciles with captive legislation, Bahrain, the Qatar Financial Centre and the Dubai International Financial Centre, and their associated regulators are evolving to better meet the needs of regional companies looking at captive insurance. The greater presence of captive managers, such as Marsh and Kane, is also having a positive impact.

"This MEED Insight report, published in association with the Qatar Financial Centre Authority, highlights the captive insurance concept and the many benefits it can bring companies that wish to have a better understanding and control of their risk profiles. Its aim is to provide a comprehensive overview of the captive insurance industry from a regional perspective, which will help inform companies about what is an increasingly popular insurance model..."

[Download from captive.com] [Download from QFC website]

• October 17, 2011: National Risk Retention Association 2011 Conference Wrap-up and Highlights by B. Troy Winch [Also available in printable format]S
• Visit the growing Article Index on the Risk Services Data Sheet, to view a January 2005 feature article reproduced with the kind permission of the Risk Retention Reporter: Who Manages Risk Retention Groups Formed in 2004? by Karen Cutts.
• Are States Abusing the Registration Process In Violation of the Liability Risk Retention Act? -- A Risk Retention Reporter interview with John Harkavy and Heather Ross.
• Claims Paid™ Policy Offers Risk Retention Groups a Way To Access Insurance Costs on a Real-Time Basis by Robert Bates, Peter Kezirian, and Troy Winch.
• Jon Harkavy -- Lobbyist Committed to Development of Alternative Risk Market
• A Hybrid Risk Financing Option: Combining Large Deductible Plan With Captive Insurer for Comp Cover

Articles - February 2007. Visit the Taft Companies Data Sheet for the latest articles posted that might not have made it to this page yet!

• Right Answer, Right Time by Dick Goff, Reprinted with kind permission of Captive Review, December/January 2007 issue.
  
• Broad Appeal by Dick Goff - Reprinted with kind permission of Captive Review, DC 2007 issue.

November 10, 2011 - Towers Watson's Insights: The NAIC ORSA — The Evolutionary Process Continues

"As the National Association of Insurance Commissioner's (NAIC's) Own Risk and Solvency Assessment (ORSA) requirement has continued to evolve, Towers Watson has reported the changes in a series of papers. In our June 2011 Insights article, we detailed the NAIC's initial ORSA proposal requirements. Much has changed since then, and we subsequently released an update in August 2011 to keep our clients abreast of the ORSA changes. Continuing in that vein, the following article provides the latest information on the most recent changes to the requirement. What has happened, and what are the next steps?" [To full article]

August 25, 2011: Helpful Downloads from the Towers Watson home page

April 8, 2011: Insights on Japan Crisis from Towers Watson: Japan Earthquake: Insurance Industry Impact and Risk Management Lessons


"The terrible human cost and the financial impact of the devastating March 11 earthquake and tsunami that hit Japan are still being assessed, with further concerns raised over Fukushima and other nuclear facilities prompted by reports of a powerful new magnitude 7.1 aftershock on April 7..." [Full story]

March 29, 2011: From Towers Watson, Insights: Measuring Risk Culture -- A powerful approach to demonstrate embedding of risk management within an organization. "A key aspect of an effective risk management system is the governance framework underlying it. However, many insurance companies focus extensively on improving risk measurement, rather than taking the opportunity to implement real cultural change. To do this effectively, companies need to..." [Download now]

Towers Watson has just posted a new article and PodCast on its website that you might want to download. Coming Together: Capital and Risk Management: "Successful capital management requires an integrated picture of a firm’s capital needs and funding possibilities, and an effective process for managing capital allocation to individual business units.

"This article, part of our ongoing series on embedding ERM in insurance, analyzes the capital management function’s roles and responsibilities..."

• To summary page (links to the complete article and PodCast are found in the right margin, but for your convenience, we will supply the link to the pdf here)
• Download full article in pdf

• November 25, 2008: USA Risk Group Industry Update October 2008 (download newsletter)
• A special reprint from Risk Retention Reporter: Sources of Capital for Risk Retention Groups -- A Risk Retention Reporter Interview with Andrew Sargeant (June 2003)
• Memo from Andrew Sargeant regarding The Terrorism Act (January 22, 2003)
• The Choice is Yours -- written for agents who are considering involvement in the Alternative Market (January 22, 1999)
• The Captive Manager Choice (July 17, 1998)