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Insurance in 2030: Use Scenario Planning To Plot a Course

What does insurance look like in 2030, and what should captives be concerned with? In this guide, you'll learn how to begin to answer this question through scenario planning and some of the longer-term trends that should be considered.
May 24, 2017 Read More
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Claims Handling in Captives

Owners of captive insurance companies have an opportunity to take much greater control of the claims process than with traditional insurance. When this control is exercised via a well-thought-out-and-executed process, the result will be lower costs and a more successful captive. This article discusses some of the key considerations and decision points.
May 22, 2017 Read More
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7-Step Priority Management

Accomplishing desired business outcomes, feeling like you've maximized your workday, and creating work/life balance have little to do with "time" management and more to do with "priority" management. This article outlines seven steps to start building a priority management plan to help make you more successful in achieving desired outcomes.
May 17, 2017 Read More
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Insurance in 2030: Questions for Captives To Ponder

Technology and changing demographics will instigate profound changes on risk and insurance in the future. What will insurance look like in 2030, and where do captives fit in? In this guide, you'll learn how to begin to answer this question and what are some of the trends you should consider.
May 15, 2017 Read More

Hot Topics

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"Insurance Risk" Defined by IRS

Internal Revenue Service ruling specifies types of coverage that do not qualify as insurance risk for determining tax-deductibility of premiums paid to a captive insurer.
March 07, 2016 Read More
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Captive Insurance Again on IRS List

The year may have changed, but the Internal Revenue Service (IRS) preoccupation with captives as potential abusive tax shelters remains the same.
February 25, 2016 Read More
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Captive Insurers' Use of Swing-Rated Reinsurance Contracts Focus of SCCIA Webinar

The use of swing-rated reinsurance contracts by captive insurance companies, including actuarial, accounting, and regulatory implications, was the focus of a March 3, 2016, webinar hosted by the South Carolina Captive Insurance Association (SCCIA).
March 04, 2016 Read More

Recent News

Latest Data Suggests 2017 Tropical Storm Season Will Be More Active than Originally Thought

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The Weather Company has updated its 2017 tropical forecast for the North Atlantic basin. It now expects a total of 14 named storms, 7 hurricanes, and 3 major hurricanes. These are increases in all three major categories of storms.
May 25, 2017 Read More

Texas Senate Improves the Captive Law, Passing HB No. 1944

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House Bill (HB) 1944 passed its second and third reading in the Texas Senate and has been sent to Governor Greg Abbott to sign. At that time, it will become part of the Texas captive statute. HB 1944 makes a number of improvements in the statute.
May 25, 2017 Read More

Emerging Leaders Summit for Insurance Professionals Planned for August

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International Risk Management Institute, Inc. (IRMI), and Young Risk Professionals (YRP) have announced plans to hold an Emerging Leaders Summit in Dallas, Texas, on August 28, 2017. This 1-day event will feature interactive sessions focused on issues important to young risk management and insurance professionals.
May 24, 2017 Read More

Ransomware Attacks Quadrupled in 2016 and Are Expected To Double in 2017

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The "Beazley Breach Insights—January 2017" report found that ransomware attacks quadrupled in 2016 and projects they will double in 2017. The analysis is based on data from 1,943 data breaches on behalf of Beazley’s clients in 2016, compared to 1,247 breaches in 2015, and highlights several insightful trends.
May 23, 2017 Read More

A.M. Best Affirms Credit Ratings of Cayman Captive Palms Insurance Co.

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Palms Insurance Company, Limited—a Cayman Islands domiciled captive—received positive ratings. A.M. Best has affirmed a Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a.”
May 23, 2017 Read More

Bloomberg and BDA: Bermuda Plays a Special Role in Global Economy

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Michael Bloomberg, three-term former New York City mayor and founder of Bloomberg LP, commented on Bermuda's special role in the global economy at an invitation-only forum cohosted by the Bermuda Business Development Agency last week at Bloomberg headquarters and titled "The Future of International Business Deals: How To Position for Long-Term Growth."
May 22, 2017 Read More

Puerto Rico International Insurance Center Not Affected by Government Debt Restructuring

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In a statement issued recently, the Puerto Rico International Insurers Association reassured the insurance and financial sectors there will be no change to the tax, regulatory, or other legal status of any licensed insurer as a result of Puerto Rico's Title III bankruptcy filing.
May 19, 2017 Read More

RIMS Backs Treasury Department's US-EU Covered Agreement on Reinsurance

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RIMS President Nowell Seaman sent an official letter to the secretary of the US Department of the Treasury, Steven T. Mnuchin, expressing the Society's support for the recently proposed US-European Union (EU) Covered Agreement. The bilateral agreement is designed to improve the access and management of reinsurance between the United States and Europe.
May 19, 2017 Read More

Reinsurance Pricing Won't Turn This Year, Says Fitch Ratings

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The soft pricing in the global reinsurance market will continue for at least the rest of 2017, Fitch Ratings says. Fitch expects premium rates to continue declining, due to large volumes of under-deployed capital and sluggish demand from reinsurance buyers following several years of below-average catastrophe claims.
May 18, 2017 Read More