Lynn Sheils of EWI Reinsurance warns that the most obvious pitfall a captive management team can run into is paying claims that are not covered under the captive policy.
A captive insurer's claims handling procedures should discuss all stages that are in the life cycle of a claim, according to Lynn Sheils, general counsel of EWI Reinsurance.
Steve McElhiney, president and CEO of EWI Reinsurance, explains that different core reinsurance transactions may be employed to manage runoff liabilities depending on what drives the transaction.
Steve McElhiney of EWI Reinsurance says that there is a way to unwind dormant captive insurance companies.
Runoff and related transactions present an enormous opportunity in the property and casualty industry, says Steve McElhiney, president and CEO of EWI Reinsurance.