Management Services International

Articles

Hugh Rosenbaum

Hugh Rosenbaum Discusses the World Captive Forum, Then and Now

The World Captive Forum (WCF) is set to occur January 30–February 1, 2019, at Turnberry Isle Miami. Captive.com recently spoke with captive insurance expert Hugh Rosenbaum about the event, then and now. Read on to learn more about the 2019 WCF and register today!
October 22, 2018 Read More
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ILS in a Nutshell and Collateral in the ILS Market

Captive.com recently caught up with a few members of Wilmington Trust's collateral team to find out about their expertise with collateral trusts and how it relates to the team's involvement in the insurance-linked securities (ILS) market. Read on to find out about the ILS market and ILS collateral.
October 17, 2018 Read More
Steve McElhiney

Growth in Reinsurance and Captive Insurance Runoff Transactions

Runoff and related transactions present an enormous opportunity in the property and casualty industry, says Steve McElhiney, president and CEO of EWI Reinsurance. There are many captive insurance companies around the world that are subject to using runoff solutions, and many great opportunities for growth in runoff transactions exist.
October 15, 2018 Read More
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Why Should You Do an On-Site Captive Feasibility Study?

Stewart Feldman of Capstone Associated Services says that before undertaking the project of forming a captive insurance company and the payment of hundreds of thousands, if not millions of dollars in annual premiums, most individuals or organizations will do advanced planning and analysis through a captive feasibility study.
October 10, 2018 Read More
Joel Chansky

Joel Chansky—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 Joel Chansky, chair of the Captive Insurance Companies Association (CICA) Board of Directors. Mr. Chansky is a principal and consulting actuary in the Boston office of Milliman.
October 08, 2018 Read More
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Risk Retention Groups: An Important Segment of the Captive Industry

Risk retention groups (RRGs) comprise only 3 percent of the roughly 7,000 captive insurers now operating. This relatively small number of RRGs hides the importance of this segment of the captive industry. Many RRGs are a vital source of coverage for hundreds—even thousands—of their policyholder-owners.
October 03, 2018 Read More
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What To Include in a Captive Insurer's Claims Handling Procedures

A captive insurer's claims handling procedures should discuss all stages that are in the life cycle of a claim, according to Lynn Sheils, senior vice president and general counsel of EWI Reinsurance. Stages include how the notice will be handled, investigation standards, coverage evaluation, reserving approach, and claim closure philosophy.
October 01, 2018 Read More
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What Are Association and Group Captives?

Group captives are formed when a group of individuals or entities comes together to jointly own a captive insurance company. Sometimes they are sponsored by industry associations for the benefit of their members, hence the alternative name "association captive."
September 27, 2018 Read More
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Does Your Captive Suffer from Bad Directors?

Does your captive suffer from bad directors? What are the key characteristics of a bad director, and how do you address the issue? In this article, we look at the four attributes described in the National Association of Corporate Directors article "A Field Guide to Bad Directors" and how they relate to the captive insurance industry.
September 26, 2018 Read More

Recent News

Register for the 2019 IRMI Energy Risk & Insurance Conference (ERIC)

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International Risk Management Institute, Inc. (IRMI®), has opened registration for the 2019 IRMI Energy Risk & Insurance Conference (ERIC), to be held February 25–27, 2019, at the Royal Sonesta in Houston.
October 22, 2018 Read More

Swiss Re Shoulders $1.1 Billion from Nat Cat Claims in Third Quarter

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In the third quarter of this year, Swiss Re estimated it will shoulder combined claims costs of $1.1 billion from recent natural catastrophes (net of retrocession and before tax). While the third-quarter loss estimates are large for an individual quarter for Swiss Re, the cumulative losses for the first 9 months are broadly in line with year-to-date expectations.
October 19, 2018 Read More

Demotech Releases Second Quarter 2018 Financial Analysis of RRGs

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Demotech has released its "Analysis of Risk Retention Groups—Second Quarter 2018," reporting on the overall financial performance of risk retention groups (RRGs). Demotech's senior financial analyst, Douglas Powell, has concluded that "RRGs have a great deal of financial stability and remain committed to maintaining adequate capital to handle losses."
October 19, 2018 Read More

John Neal Takes Command of Lloyd's

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John Neal has officially taken command of Lloyd's, succeeding Inga Beale as CEO. In a statement from Lloyd's, the organization said that Mr. Neal brings significant experience as a global CEO who has a track record as a highly effective leader who can deliver business transformation.
October 18, 2018 Read More

Estimated Insured Losses for Hurricane Michael Are $6 to $10 Billion

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Catastrophe risk modeling firm AIR Worldwide estimates insured wind and storm surge losses for Hurricane Michael will be between $6 billion and $10 billion.
October 18, 2018 Read More

Andrew Kurata Becomes Hawaii's Captive Insurance Administrator

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Andrew Kurata has been officially appointed deputy commissioner and captive insurance administrator for the Department of Commerce and Consumer Affairs Insurance Division in Hawaii. Last August, Mr. Kurata became acting captive insurance administrator for the department, replacing Sanford Saito, who transitioned to the private sector.
October 17, 2018 Read More

Healthcare System Catastrophic Claims Costs Rising

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The cost of extreme, or catastrophic, professional liability claims is increasing at a rate higher than typical self-insured claims, which are trending at 2 percent annually, according to the Aon/American Society for Healthcare Risk Management Hospital and Physician Professional Liability Benchmark report.
October 16, 2018 Read More

Reserve Strength Declining for US Medical Professional Liability

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Fitch Ratings findings show that the US medical professional liability insurance sector experienced underwriting losses again this past year, placing more scrutiny around shrinking reserves.
October 16, 2018 Read More

General Commercial Lines Hardening, According to IVANS

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IVANS has announced the "IVANS Index: Premium Renewal Rate Index" third-quarter results. The results showcased an increase in premium renewal rate change across nearly all of the commercial lines of business compared to the second quarter, except for businessowners policy and workers compensation.
October 15, 2018 Read More

Willis Towers Watson Enters into a Global InsurTech Partnership

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Plug and Play and Willis Towers Watson have entered into a global InsurTech partnership. The agreement extends Willis Towers Watson's access to early-stage InsurTech startups across all of Plug and Play's InsurTech platforms, which include Beijing, Munich, New York, Silicon Valley, Singapore, and Tokyo.
October 12, 2018 Read More

Best's Briefing: Considers Hurricane Michael Catastrophe Losses

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Although Florida's insurance market-share leaders possess strong levels of risk-adjusted capitalization that should provide a buffer against Hurricane Michael losses, insurers, reinsurers, and insurance-linked securities investors could face significant losses, according to a new A.M. Best briefing.
October 12, 2018 Read More

London & Capital's Kate Miller Promoted to Partner

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Wealth and asset manager London & Capital has appointed Kate Miller as partner. Her team actively manages over $1 billion of investment portfolios on behalf of captive insurers, reinsurers, and supranational organizations.
October 11, 2018 Read More

Allianz Restructures Its Alternative Risk Transfer Line

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Allianz Global Corporate & Specialty will restructure its alternative risk transfer (ART) line of business into two teams. ART Chief Underwriting Officer Richard Boyd will head up the capital solutions insurance-linked markets team. The remaining ART practice groups will be led by Michael Hohmann.
October 11, 2018 Read More