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Articles

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Harvey, Irma, and Maria's Impact on the Alternative Capital Market

Over the course of 4 weeks late in the summer of 2017, Hurricanes Harvey, Irma, and Maria brought dangerous and immensely destructive conditions to a wide swath of the Caribbean and continental United States. Aaron Koch of Milliman surveys the damage and discusses impact for the alternative capital market.
November 15, 2017 Read More
US-EU Puzzle-SF

The Bilateral Covered Agreement: Regulating a Global Insurance Marketplace

The so-called covered agreement between the United States and the European Union is expected to level the playing field for US insurers and reinsurers operating in Europe while further confirming that the US insurance regulatory system meets the goals of insurance sector oversight, policyholder protection, and national and global financial stability.
November 13, 2017 Read More
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Reinsurance Arbitration Clause Pitfalls for Captive Insurers

Almost every captive insurer purchases some type of reinsurance. The issuing reinsurer and the captive insurer enter the relationship with the best of intentions. But if disagreements happen, they will be subject to the reinsurance contract's arbitration clause, and captive insurers should seek to understand arbitration clause pitfalls.
November 08, 2017 Read More
Breach Response Plan

Utilizing Captives for Cyber-Liability Risks: The Breach Response Plan

Scott Uhl of EWI Re, Inc., discusses a single-parent captive approach to creating an enterprise-wide cyber-liability breach response plan. An effective breach response plan can materially improve a company's cyber-risk profile for improved loss control and lower premium expense, Mr. Uhl says.
November 06, 2017 Read More
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5 Key Pillars of Captive Insurer Corporate Governance

As a captive owner or board director, what are the primary components of captive corporate governance? In this article, we look at five key pillars of corporate governance and provide a brief description of each facet.
November 01, 2017 Read More
Pick Right Tool-SF

Can the Black-Scholes Model Be Used for Captive Insurance Premiums?

Pinnacle Actuarial Resources' Derek Freihaut and Tim Mosler share their thoughts on the viability of applying a specific mathematical model, Black-Scholes, in estimating the maximum premium appropriate for a captive insurance company. Should the Black-Scholes pricing model be used to estimate captive insurance premiums?
October 30, 2017 Read More
Company Percentages-SF

Special Purpose Vehicles (SPVs) Defined

Most captive insurance company owners/directors have heard the terminology "special purpose vehicles" or "SPVs." However, many do not have a good working understanding of what these entities are. In this article, we provide a definition and identify several key attributes of SPVs.
October 25, 2017 Read More
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Charles Kolodkin—Captive Owner of Interest

Captive.com spoke with Charles Kolodkin to discuss his role in overseeing Cleveland Clinic Health System's insurance program and captive operations. Cleveland Clinic is one of the country's largest healthcare organizations, whose flagship facility is consistently rated among the nation's top five hospitals.
October 23, 2017 Read More
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

Recent News

Kate Miller To Build London & Capital's Institutional Business

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Wealth and asset manager, London & Capital (L&C) has appointed Kate Miller as head of institutions. Based in London, Ms. Miller will continue to build L&C's growing and successful institutional business.
November 17, 2017 Read More

"Cyber Insurance for Healthcare Market Survey" Now Available

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International Risk Management Institute, Inc. (IRMI), has released the "Cyber Insurance for Healthcare" issue of The Betterley Report. This new report provides an overview of the market conditions and coverage trends related to cyber and privacy insurance for healthcare organizations.
November 17, 2017 Read More

Legaré Gresham Establishes Pinnacle Actuarial Resources in Carolinas

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Consulting Actuary Legaré W. Gresham, FCAS, MAAA has established Pinnacle Actuarial Resources, Inc.'s presence in Charleston, South Carolina, as the firm continues to grow both domestically and internationally.
November 17, 2017 Read More

FEMA Chooses AIR Worldwide To Model NFIP Flood Risk

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The Federal Emergency Management Agency (FEMA) will use AIR Worldwide's Inland Flood and Storm Surge Models for the United States to better understand the National Flood Insurance Program's (NFIP's) loss potential to help evaluate actuarially sound rates and assess the impacts of major flooding events in real time.
November 16, 2017 Read More

Milliman To Redesign Nationwide Rating Plan for NFIP

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The Federal Emergency Management Agency (FEMA) has selected Milliman, Inc., to provide actuarial consulting services to redesign flood insurance products across the National Flood Insurance Program (NFIP). Milliman will provide state-of-the-art tools, technology, and analysis to FEMA in order to design a new rating plan for NFIP policies nationwide.
November 16, 2017 Read More

Funding Benefits through Captive Insurance Companies Continues To Grow

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Hyatt Hotels Corp. is the latest employer to win federal regulatory approval to fund employee benefits through its captive insurance company. Hyatt joins roughly three dozen employers that have received US Department of Labor approval in recent years to fund employee benefit risks through their captive insurance companies.
November 15, 2017 Read More

Strategic Risk Solutions Grows Presence in Barbados

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Strategic Risk Solutions (SRS) has acquired CGE Group (CGE), a captive and other international business management company in Barbados. CGE's current CEO, Chris Evans, will lead the Barbados operations. The acquisition will allow SRS to establish a strong, immediate presence.
November 14, 2017 Read More

Chubb Appoints Barry Beard To Head Complex Multinational Captives

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Chubb has appointed Barry Beard to lead its Global Services and Complex Multinational UK and Ireland division. In his role, Mr. Beard will help clients manage complex multinational captive insurance programs.
November 14, 2017 Read More

2018 IRMI Energy Risk & Insurance Conference Registration Now Open

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Energy is a risky business with specialized and very complex insurance needs. The 2018 IRMI Energy Risk & Insurance Conference (ERIC) provides a unique opportunity to discuss best practices and develop a powerful network of risk professionals who can help solve problems. Register now for the 2018 ERIC.
November 14, 2017 Read More

Bermuda Delineates Fact from Fiction in Answering ICIJ Reports

Fact versus Fiction 
Recent reports from the International Consortium of Investigative Journalists (ICIJ) expose the names of people and companies behind what it alleges are "secret offshore structures" that, in some cases, are used to reduce or avoid taxes. Bermuda has responded to the ICIJ reports to delineate fact from fiction.
November 13, 2017 Read More