Finance, Accounting, and Investments

  Financial Statements-SF

Loss Disclosures for Short-Duration Insurance Contracts (GAAP Filers)

The Financial Accounting Standards Board has issued ASU 2015–09 for nonpublic, calendar year-end insurance company filers. This Accounting Standards Update requires additional disclosures to provide better insight into an insurer's initial claim estimates and subsequent adjustments and to help financial statements users understand the frequency, severity, and timing of future cash flows related to the estimated claim costs. This article summarizes the new requirements.
March 22, 2017 Read More
  Machine Learning-SF

Uncertain Times Squared: The Future of Investing for Insurers

What new ideas, technologies, and ways of conducting our lives do we see impacting our economy and financial markets? The future of investing for insurers, in the next 7–10 years, will see artificial intelligence and especially machine learning having a very pronounced impact on our careers, companies, and daily life.
March 06, 2017 Read More
  Expand Captive Horizon

Captive Insurance Industry Looks at What Is Next for Bond Yields, Inflation

One of this editor's favorite songs is Elton John's "Where to Now St. Peter?" from the 1970 album "Tumbleweed Connection." It seems extremely apropos to the bond market after the recent election results.
November 23, 2016 Read More
  Company Rating

Captive Industry and Risk Retention Group Auditing Challenges Discussed

Glenn Saslow, CPA, partner at Crowe Horwath LLP, recently offered a glimpse into his auditing experience with the captive insurance industry.
November 22, 2016 Read More
  Question Mark

Captive Insurers Need To Ask Investment Managers More Meaningful Questions

Alton Cogert, president and chief executive officer of Strategic Asset Alliance, recently posted a blog on the Strategic Asset Alliance website offering the four specific questions that will lead to a more meaningful and useful investment manager meeting.
November 09, 2016 Read More
  Montana Flag

Montana RRG CareConcepts Is in Liquidation

On May 23, 2016, the Office of the Montana State Auditor, Commissioner of Securities and Insurance (CSI), suspended the license of CareConcepts Insurance, Inc., a risk retention group (RRG), allowing the Insurance Department to take control and supervise CareConcepts. On August 8, 2016, the Montana CSI issued a court order, signed by a Montana District Court Judge, to commence liquidation of CareConcepts. On August 10, 2016, CareConcepts was placed into liquidation. Michael J. FitzGibbons, president of FitzGibbons and Company, Inc., was appointed as special deputy liquidator on August 22. Claims against CareConcepts have a deadline of March 31, 2017.
November 08, 2016 Read More
  Downward Trend

Golden Insurance Company RRG A.M. Best Rating Is Negative

The outlook for Golden Insurance Company, RRG, has been revised from stable to negative by A.M. Best, and its financial strength rating of B (Fair) has been affirmed. The revised outlook is worth the review of all in the risk retention group (RRG) community. The rating reflects issues that every RRG should be concerned about as they seek to maintain financial and operational sound companies.
October 25, 2016 Read More

Captive Insurance Analytics, Analysis, History, Recent Events Featured in October 2016 CICR

The October 2016 issue of "Captive Insurance Company Reports" features a broad range of articles that are of interest to captive owners, managers, and staff.
October 12, 2016 Read More
  Drug Money Sign

Interest Rates and Opioids Challenge Workers Compensation Market

The low interest rate environment is "the single biggest problem [for insurers] we have in the workers comp market right now" says John Leonard, president and chief executive officer of Maine Employers' Mutual Insurance Company.
October 07, 2016 Read More
  Dollar Sheet

Captive Insurers Need To Understand New Money Market Rules

The U.S. Securities and Exchange Commission (SEC) recently instituted new regulations governing institutional money market accounts. The historical context for this change dates back to the financial crisis of 2007–2008.
October 05, 2016 Read More
  Washington Monument

CIC-DC 2016 Annual Conference on Captive Insurance

The Captive Insurance Council of the District of Columbia (CIC-DC) will open its 2016 Annual Conference on Tuesday, October 18th, with a networking reception, followed by a full day of educational sessions on October 19th. The Conference will be held at Loews Madison Hotel in Washington, DC.
October 04, 2016 Read More
  The Federal Reserve

Captive Insurance and the Federal Reserve

Most captive owners and managers, if they follow the Federal Reserve at all, probably focus on the pronouncements made from the Federal Open Market Committee (FOMC). The latest release was on September 21, 2016, and concerns the Federal Reserve's short-term outlook and its expectations for changes to interest rates. The release on the 21st contained the following language.
September 29, 2016 Read More
  Money graph

Demotech, Inc., Releases Second Quarter 2016 Analysis of RRGs

According to Demotech's Douglas Powell, the bottom line for risk retention groups (RRGs) at the conclusion of the second quarter of 2016 is "that these specialty insurers continue to exhibit financial stability."
September 23, 2016 Read More
  EU Flag Star

Captive Insurance Industry Brexit Implications Topic of Webinar

Captive Insurance Companies Association (CICA) has scheduled a webinar, titled "Brexit and the Impact on the Captive Industry," to be held at noon (CDT) (1:00 p.m. ET) October 20, 2016.
September 21, 2016 Read More
  Doctor Stethoscope

A.M. Best Upgrades Medical Malpractice RRG Rating

The A.M. Best Rating of Community Hospital Alternative for Risk Transfer (CHART) Risk Retention Group (RRG) has been upgraded to A- (Excellent) by A.M. Best.
September 20, 2016 Read More
  Hawaiian Flowers on Beach

Hawaii Captive Insurance Council "Win with Aloha" Educational Forum

The Hawaii Captive Insurance Council Annual Educational Forum is scheduled to be held October 12–14, 2016, at the Hilton Hawaiian Village on the island of Oahu, Hawaii. There are several topics featured at the Educational Forum that standout from other conferences sponsored by state captive associations.
September 13, 2016 Read More
  Retirement Planning

Captive Insurance Role in Employee Retirement Services Explored

The July 2016 issue of Milliman's "Benefits Perspectives: Current Issues in Employee Benefits" features two excellent articles on helping employees with their retirement plans.
September 12, 2016 Read More

Captive Insurance Webinars and Videos You Need To Watch

Here are some upcoming webinars and posted videos that will be of interest to anyone in the captive insurance industry.
September 02, 2016 Read More
  Business Man Thinking

Ponder Your Captive Insurance Company's Investment Portfolio

While captive owners and managers pay particular attention to the liability side of the balance sheet (i.e., claims reserves), recent news articles got us thinking about the asset side as well.
August 26, 2016 Read More

A.M. Best Revises National Independent Truckers Insurance Company Outlook

The financial strength rating of B+ (Good) for National Independent Truckers Insurance Company, A RRG (NITIC) has been affirmed by A.M. Best, and the outlook has been revised from stable to positive.
August 19, 2016 Read More