A.M. Best expects to see a significant captive formation increase in Asia-Pacific domiciles as economies grow and businesses seek new and more sophisticated ways of risk management and control, according to the rating agency's latest report, titled "Asia-Pacific Captive Domiciles Poised for Growth."
Marsh recently released its "Global Insurance Market Index," which showed that average commercial insurance prices increased 3 percent in first-quarter 2019, the largest increase since the survey began in 2012.
The Economic and Financial Affairs Council in Brussels has removed Aruba, Barbados, and Bermuda from the European Union's list of noncooperative tax jurisdictions.
USA Risk Group revealed that its senior management team has completed a management buyout from Spencer Capital Holdings, which will include operations from all captive jurisdictions that USA Risk Group currently operates.
AkinovA (Bermuda) Ltd. has secured the first Insurance Regulatory Sandbox license from the Bermuda Monetary Authority under the jurisdiction's new legislative framework that came into effect in July 2018.
The House of Representatives has recently passed two bills to extend the National Flood Insurance Program (NFIP) until Sept. 30, 2019. The most recent action was May 14 when the House passed an NFIP stand-alone extension measure, H.R. 2578.
The Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) is set to expire at the end of 2020. According to A.M. Best, doubt exists surrounding whether TRIPRA will be extended and, if so, under what terms and conditions, particularly amid a hyperpartisan atmosphere in Congress.
Lloyd's is set to invest in Layr, an Atlanta-based InsurTech company, following Layr's participation in a successful Lloyd's Lab trial. The investment will allow Layr to develop its cloud-based solution to provide faster access for small businesses looking to purchase liability insurance. Layr is also exploring potential distribution opportunities with several Lloyd's syndicates.
Following fourth-quarter 2018 insurance-linked securities (ILS) growth reduction, ILS market growth continued to slow in the first quarter of 2019. First-quarter 2019 raised $1.1 billion through catastrophe bond issues as compared to an average of $1.8 billion over the 6 preceding first quarters.
Strategic Risk Solutions is set to host its 6th annual client symposium from May 28–30 at the Lowes Chicago Hotel. Find out more and get the full schedule.
Management Services International (MSI) has just released its latest podcast, titled "Captive Facts versus Myths for Dummies," which is immediately available free of charge at the MSI podcast library.
Stephen Catlin and Paul Brand recently unveiled their international specialty insurer and reinsurer, Convex Group Limited.
Strategic Risk Solutions announced the addition of its 500th captive management client (captives and cells): Old Main Assurance, Ltd., a Class 1 Bermuda-domiciled captive insurance company.
Is your organization looking for data on captive insurance rules and regulations for US and non-US captive insurance domiciles? Look no further. Access the sought-after Appendix B in "Risk Financing" to get the latest captive insurance domicile information updates.
Don't miss the May issue of "Captive Insurance Company Reports" ("CICR"), where John Talley, captive program manager with the Missouri Department of Insurance, reports on the history and the current fate of captive insurance companies and the Federal Home Loan Bank System.
Regardless of where they are licensed, the overwhelming majority of captive insurance companies or protected cell captives are active, according to a survey released April 29 by Aon PLC.
April 30, 2019
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The "16th Annual Excellence in Risk Management" report from Marsh and RIMS revealed that risk managers are operating in a data-rich environment that, when combined with growing alternative risk solutions, can result in more robust risk finance strategies and more resilient organizations.
April 30, 2019
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Marsh will begin rollout of its Proof of Insurance Blockchain platform to US commercial clients to allow its clients to speed up necessary business functions while increasing coverage certainty.
April 29, 2019
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Demotech has released its "Analysis of Risk Retention Groups—Year-End 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."
April 26, 2019
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A US Department of Labor (DOL) rule clarification allowing employers the option to provide long-term disability coverage to their employees through automatic enrollment should benefit insurers by increasing participation rates.
April 26, 2019
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