Articles

Think Outside the Box-SF

Reinsurance—3 Ways To Think Outside the Box

As the capital markets continue to penetrate the traditional reinsurance markets, captive owners would do well to think outside the box. This article suggests ways owners might collaborate to create innovative capital market opportunities.
March 27, 2017 Read More
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Loss Disclosures for Short-Duration Insurance Contracts (GAAP Filers)

The Financial Accounting Standards Board has issued ASU 2015–09 for nonpublic, calendar year-end insurance company filers. This Accounting Standards Update requires additional disclosures to provide better insight into an insurer's initial claim estimates and subsequent adjustments and to help financial statements users understand the frequency, severity, and timing of future cash flows related to the estimated claim costs. This article summarizes the new requirements.
March 22, 2017 Read More
Summit Meeting-SF

The Case for Centralized In-House Loss Control with Captive Insurance

Written by a practicing risk manager, this article outlines some of the potential advantages of embedding centralized loss control within a captive and how doing so can reduce the cost of risk.
March 20, 2017 Read More
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A Guide to Actuarial Reports

There are numerous types of actuarial reports, and they can be as different as the actuaries who author them. This article gives guidance on which elements are required and which are a matter of style with the purpose of helping you to better understand actuarial reports.
March 15, 2017 Read More

Hot Topics

Insurance Risk Definition HT

"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
Taxes HT

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
Upward Swing HT

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

R&Q Acquires Captive Insurer of American Fortune 500 Company

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Randall & Quilter Investment Holdings Ltd. (R&Q) has acquired ICDC, Ltd. (ICDC), a captive insurer of an American Fortune 500 company. The company, originally domiciled in Bermuda, was redomiciled in Vermont effective June 30, 2015. The company reinsured workers compensation, commercial general liability, business auto liability, business auto physical damage, and property risks.
March 27, 2017 Read More

European Cedants Increase Reinsurance Buying but Demand for Cover Slows

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In a new briefing, A.M. Best reports European cedants have increased reinsurance buying despite slowing demand. This trend is driven by a diverse range of factors, including regulatory demands under Solvency II and the need to support product diversification, including new lines of business.
March 24, 2017 Read More

R&Q Acquires Bermuda Captive Linco

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Randall & Quilter American Holdings Inc. (R&Q) has agreed to acquire Bermuda-based Linco Ltd. (Linco), a wholly owned captive insurer of AmeriPride Services, Inc. and Alsco Inc. The transaction is subject to regulatory approvals, which are anticipated within 30 days.
March 24, 2017 Read More

IAIS Report Analyzes Impact of FinTech Trends on Insurance Industry

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A new report from the International Association of Insurance Supervisors (IAIS) highlights the potential impact of innovative financial technologies (“FinTech”) on insurance sector competitiveness, consumer choice, interconnectedness, business model viability, and regulatory oversight. The report, titled "FinTech Developments in the Insurance Industry," also examines the challenges and opportunities for insurance supervisors.
March 23, 2017 Read More

25 Percent of Captive Insurance Workforce To Retire in 5 Years, Says CICA President

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The 2017 Captive Insurance Companies Association (CICA) Conference, Defying Disruption, focused on talent management as one key aspect for captives. In his opening remarks, CICA president Dennis Harwick noted that 25 percent of the captive insurance industry workforce will retire in the next 5 years. This certainly set the stage for the keynote address and session topics to focus on the need to attract and retain talent.
March 23, 2017 Read More

Insurance Industry Trades Voice Support for Covered Agreement

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In a letter to Treasury Secretary Steven Mnuchin, four insurance industry trade groups reiterated their strong support for the Covered Agreement negotiated by the United States and European Union to resolve prudential insurance and reinsurance matters. They believe the Agreement makes US insurers competitive in the European Union and recognizes the strength of the US insurance regulatory system.
March 22, 2017 Read More

NRRA Files Amicus Brief in Restoration RRG Appeal

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The National Risk Retention Association filed an amicus curiae brief in support of Restoration RRG in its recent court appeal, challenging the Wisconsin Department of Safety and Professional Services for discrimination against risk retention groups.
March 21, 2017 Read More

CICA Elects Sarah Pacini New Board of Directors Chair

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The Captive Insurance Companies Association (CICA) has elected a new board chairperson and new officers and directors. Sarah Pacini, J.D., chief executive officer, Cooperative of American Physicians, Inc., has been elected chair of the Board of Directors.
March 20, 2017 Read More

Delaware Captive Insurance Association Plans 2017 Spring Forum

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The Delaware Captive Insurance Association (DCIA) has released details on its upcoming 2017 Spring Forum, to be held May 8–9, 2017, at Chase Center on the Riverfront in Wilmington, Delaware. The forum will provide an opportunity to meet Delaware's newly elected insurance commissioner, Trinidad Navarro, and other key stakeholders.
March 20, 2017 Read More