Articles

RobWalling-SF

Robert Walling—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 Robert Walling, principal and consulting actuary at Pinnacle Actuarial Resources, Inc. Read his thoughts on the actuarial profession, predictive modeling, and the need for innovation.
July 26, 2017 Read More
Global Technology-2-SF

Is Your Predictive Analytical Modeling Wrong?

"All models are wrong; some models are useful." Given how pervasive predictive analytical modeling has become in all corners of insurance, this quote serves as an important reminder that models are mere approximations of the real world. While beneficial, models should not be used as a substitute for critical thinking.
July 24, 2017 Read More
I Love My Job-SF

7 Steps To Increase Employee Retention

Employee turnover is costly. In terms of annual salary, cost estimates for losing a position to turnover range from 30–150 percent (hourly employees) up to 250 percent (sales/senior leadership). Developing a strategy that follows seven key steps is critical to the long-term success of an overall employee retention plan.
July 19, 2017 Read More
Mission Statement-SF

Is Affordable Pricing an Impediment in Your Captive's Mission Statement?

Captive insurer mission statements are intended to be living, dynamic documents. Too often, they are crafted during the captive's start-up phase and then forgotten. Most captive mission statements contain references to affordable pricing. Given the ongoing market conditions, it may be time to remove this reference and refresh your mission statement.
July 17, 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

August Issue of "CICR" Reports on How Captives Can Support Unique Risks

CICR Image-SF 
The August issue of "Captive Insurance Company Reports" ("CICR") begins with an article by Anne Marie Towle on captive utilization for unique risks or scenarios.
July 26, 2017 Read More

Big Changes at the International Center for Captive Insurance Education

ICCIE Trained Organization 480x377 
The International Center for Captive Insurance Education (ICCIE) has announced some big changes and improvements in recent months. Catch up on the new Captive Career Center, get certified as an ICCIE Trained Organization, become recognized as an ICCIE Fellow, and view the most recent Associate in Captive Insurance and Certificate in Captive Insurance designation recipients.
July 25, 2017 Read More

Vermont: Largest US Captive Insurance Conference August 8–10, 2017

vcia logo 480x377 
Captive insurance professionals from throughout the United States and around the world will gather in Burlington, Vermont, for one of the world's premiere captive insurance events August 8–10, 2017, at the Sheraton Hotel and the University of Vermont Davis Center.
July 25, 2017 Read More

Study Warns That a Border Adjustment Tax Would Mean Costly Insurance

Money and Compass 480x377 
A study by the R Street Institute and the Pacific Research Institute warns that if Congress passes a border adjustment tax as part of federal tax reform, US insurers will find it virtually impossible to buy global reinsurance, which they commonly use to spread risk and keep insurance rates affordable.
July 24, 2017 Read More

Check the Bermuda Captive Conference Schedule and Watch BDA Webcasts

BCC-2016-banner-ad- 480x377 
Check out the Bermuda Captive Conference Schedule, and get ahead on Bermuda and captives by watching the Bermuda Business Development Agency (BDA) series of webcasts highlighting the island’s attractions as a home for captive insurers. The videos are designed to show corporations of all industries what captives do and how they can be used.
July 21, 2017 Read More

North Carolina’s Captive Insurance Law Fuels Rapid Captive Growth

North Carolina Flag 480x377 
North Carolina's captive insurance program’s rapid growth is turning heads, both nationally and globally. Businesses are finding the state’s thorough but fair regulation a plus when it comes time to select a jurisdiction to domicile a captive insurance company. The law also provides for low formation and operations costs.
July 21, 2017 Read More

Cyber Exposures Remain Underinsured to the Tune of Billions, Per Lloyd's

Cyber Hacking-SF 
Lloyd's and Cyence have collaborated on the report “Counting the cost: Cyber exposure decoded,” which reveals the potential economic loss impact of two cyber exposure scenarios. The scenarios discussed are a cloud service provider hack and a mass vulnerability attack.
July 20, 2017 Read More

A.M. Best Applauds Relevance of Lloyd's/Cyence Cyber Exposure Report

Promotion-SF 
A.M. Best commented in its own special report that a recent cyber exposure report by Lloyd's and Cyence, which aims to provide cyber insurance providers with plausible and realistic scenarios to evaluate their cyber risk accumulations, represents a positive step forward in developing consistency in the measurement of cyber exposure.
July 20, 2017 Read More

Missouri Tort Reform Brings Fairness to Claims Settlement Process

Missouri Flag-SF 
Missouri has taken important steps toward improving its legal climate with the enactment of comprehensive insurance tort reform legislation, SS/SCS/HCS/HB 339 and 714, according to the Property Casualty Insurers Association of America. This bill will help curb the abuses associated with § 537.065 and the time-limited demand settlement process.
July 19, 2017 Read More