Direct placement taxes apply to both surplus lines placements as well as placements with any nonadmitted company, such as a captive insurer.
Successfully managing a captive insurance company involves many functions, including financial accounting, corporate governance, underwriting and risk management, regulatory reporting, and overseeing the work of various service providers. Captive managers should have in place a system of organizational controls that provides accurate and thorough administration and reporting of these functions.
Healthcare captive insurers underwriting medical professional and general liability for acute care facilities, physician practices, managed care organizations, and other healthcare services providers have a long history of managing and adjusting claims. In this article, Michael Maglaras discusses basic elements of a good internalized healthcare provider-owned captive claims management process.
Following the series of natural catastrophes clustered around the third and early fourth quarters of 2017, insurers and reinsurers provided their initial estimates of the associated incurred losses and earnings impacts. The expectation is that the initial estimates will be restated, and most likely increased, as the assessments evolve.
One of the most important market trends has been the rise in non-life insurance-linked securities (ILS) that transfer risks outside of the natural catastrophe space. Aaron Koch of Milliman provides an overview of "non-Nat-Cat" ILS market potential and offers his view on next steps.