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Articles

Actuarial Peer Review-SF

Corporate Governance and External Peer Review

In this article by Robert Walling, Pinnacle Actuarial Resources, he discusses how the use of a peer review of the consulting actuary's work results in better corporate governance. Given the lack of insurance expertise on many captives' board of directors, the use of a peer review is certainly justified.
October 18, 2017 Read More
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Risk Management Made Profitable with a Captive Insurance Company

Jeremy Colombik, president of Management Services International, says that business owners have a choice to purchase insurance coverages or not. Regardless, the risk remains. Business owners can make risk management profitable and improve their commercial insurance policies with a high deductible insurance policy that moves risk into a captive insurer.
October 16, 2017 Read More
Key to Success-SF

5 Key Attributes of Captive Managers

Captive managers are an integral part of any captive insurance program. But what are the key attributes that captive insurers and their owners should look for when evaluating and selecting a captive manager? Here are five for consideration.
October 11, 2017 Read More
Jeremy-Colombik-SF

Jeremy Colombik—Captive Insurance Person of Interest

As part of our ongoing commitment to provide thoughtful commentary concerning issues impacting captives and the broader insurance markets, we spoke with Jeremy Colombik. Read his thoughts on 831(b) micro-captives, the "Avrahami" case, and Internal Revenue Service Notice 2016–66.
October 09, 2017 Read More
Tax Reform-SF

Eversheds Sutherland Observations on the Unified Tax Framework

Eversheds Sutherland provides its observations on the Republican unified tax framework. The framework is intended to serve as a "template" for the tax-writing committees, the House Ways and Means Committee, and the Senate Finance Committee to draft tax reform legislation.
October 04, 2017 Read More
Businessman with Questions-SF

5 Questions To Ask When Considering a Captive Insurance Company

Under the right circumstances, a captive can provide myriad benefits and, increasingly, mid-to-large firms are looking to form or join a captive insurance company. Find out how captive insurance companies operate, the different types of captives, and five key questions to ask when considering whether to form a captive.
October 02, 2017 Read More
Businessman Checking Check Box

A Checklist for 831(b) Captives in Light of the Avrahami Tax Case

This 5-part checklist lays out a set of fundamental policies and practices 831(b) captives should follow. While the Avrahami 831(b) captive tax case may have been unique, owners need to be following essential protocols. In doing so, they are much less likely to find themselves the subject of an IRS audit.
September 27, 2017 Read More
Semi-Truck

Captive Insurance Opportunities in the Transportation Industry

Recent years have been difficult for the commercial automobile insurance industry. Both frequency and severity have been escalating, while rate increases have not been sufficient to offset the climbing loss costs. Captive insurance and the alternative market can provide a flexible option for companies and groups as they respond to the industry's increasing market volatility.
September 25, 2017 Read More
Financial Statements-SF

Accounting Rules Impact Captives Writing High Deductible Workers Comp Policies

Johnson Lambert recently released a new white paper on the revisions to Statement of Statutory Accounting Principles (SSAP) No. 65 regarding high deductible workers compensation policies. Any captive insurers using this type of policy need to be aware of the changes and their impact.
September 20, 2017 Read More

Recent News

Aon/ASHRM Report Reveals Healthcare Systems Face Rising Batch Claims

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The 2017–2018 report from Aon and ASHRM (American Society for Healthcare Risk Management) titled "Aon/ASHRM Hospital and Physician Professional Liability Benchmark Analysis" reveals that healthcare systems can expect stable claims frequency for typical professional liability claims but warns of increased claims frequency for extremely large claims. The report also finds that batch claims are on the rise in nearly every state.
October 19, 2017 Read More

Using Artificial Intelligence To Create Insights into Insurance Risk

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XL Catlin's internal innovation team, Accelerate, will team up with Cytora, a UK-based insurtech start-up, to use artificial intelligence and open source data to create new insights into risk by leveraging Cytora's expertise in sourcing, analyzing, and combining data from multiple sources.
October 19, 2017 Read More

NAIC Proposed Insurance Data Security Model Law Explained

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Eversheds Sutherland explains the National Association of Insurance Commissioners (NAIC) proposed Insurance Data Security Model Law that tracks language from New York's regulation. In lieu of the New York regulation's specific and nuanced requirements, the proposed model law requires licensees to determine which controls listed in the law are appropriate for them.
October 18, 2017 Read More

Cayman Island Insurance Company Formations Clipping Along in 2017

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To date for 2017, the Cayman Islands Monetary Authority has issued 23 new insurance company licenses. This count includes 20 Class B licenses and 3 Class C licenses. The 2016 year ended with a grand total of 39 new insurer licenses, following 22 in 2015 and 23 in 2014.
October 17, 2017 Read More

Capstone Hires David Osbourn To Direct Captive Insurance in Northeast

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Capstone has hired its sixth Chartered Property Casualty Underwriter, David Osbourn, as director of business development for the Northeastern United States. In his primary role, he will expand Capstone's reach in the Northeastern/Mid-Atlantic regions to educate middle-market business owners and advisers on the benefits of captive insurance planning.
October 17, 2017 Read More

A Focus on Unlocking International Employee Benefits in Captives

Employee Benefits Panel Bermuda-SF 
According to a Bermuda Captive Conference panel, financing global employee benefits in captives does not present the same bureaucracy and expense as it does in the United States. The industry can expect to see up to 200 companies with global employee benefits risk in their captives within the next few years.
October 16, 2017 Read More

The US 2017 Billion-Dollar Weather and Climate Disasters Count Hits 15

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Since June 2017, six weather and climate events impacted the United States with costs exceeding $1 billion. The events included Western wildfires, Northern Plains drought, severe weather in the Midwest, and Hurricanes Harvey, Irma, and Maria. This brings the year-to-date total to 15 separate billion-dollar weather and climate disasters.
October 13, 2017 Read More

Kroll Appoints Donna Halverstadt To Direct Its Insurance Ratings Group

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Kroll Bond Rating Agency (KBRA) has appointed Donna Halverstadt as managing director of its insurance ratings group. Ms. Halverstadt joins KBRA with over 30 years of experience with financial institutions, primarily insurers. She will lead KBRA's insurance ratings team, merging her industry and capital markets expertise with KBRA's insurance knowledge.
October 13, 2017 Read More

Tennessee Delivers 3 Modernized Rules for Captive Insurers

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The Tennessee Department of Commerce & Insurance is ushering in new, more modern rules to guide the Volunteer State's burgeoning captive insurance industry. The new rules relate to dormancy, audits, and financial exams.
October 12, 2017 Read More

Swiss Re sigma Study: Deep Changes, New Risks, and New Opportunities

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The Swiss Re sigma study "Commercial insurance: innovating to expand the scope of insurability" reveals that product development and innovation around data and data analytics have expanded the scope of insurance solutions to a wider range of threats and perils and made risk transfer more efficient.
October 12, 2017 Read More