In its latest "Transactional Risk Insurance Report," Marsh said use of transactional risk insurance significantly increased in 2018. Policy limits in excess of $1 billion are now available for single transactions as private equity firms and strategic investors increasingly use insurance to reduce the risks associated with mergers and acquisitions.
According to new research, 1-in-3 malpractice cases involving serious patient harm is due to misdiagnosis, with cancer, vascular events, and infection accounting for three-fourths of high-harm, diagnosis-related claims.
Management Services International (MSI) has just released its latest podcast, titled "Captive for Dummies: Syzygy… What Went Wrong?," which is immediately available free of charge at the MSI podcast library.
Captive.com recently spoke with Scott Bailey, communications chair with the North Carolina Captive Insurance Association (NCCIA), to discuss the annual conference, scheduled for August 21–23, 2019, at the Ballantyne Hotel in Charlotte, North Carolina. Hear from Mr. Bailey about the North Carolina captive domicile and the upcoming conference, hosted by the NCCIA.
Global insurance premiums passed the $5 trillion mark for the first time in 2018, equivalent to more than 6 percent of world gross domestic product, according to the latest Swiss Re sigma study, "World insurance: the great pivot east continues."
Is your organization looking for self-insurance qualifications for automobile liability, insights into small deductible plans and large deductible plans, or information on considerations for collateralization of risk financing plans? Look no further. Access "Risk Financing" for this information and more.
According to the latest "Willis Re 1st View: A Discerning Market" report, the June and July reinsurance renewal period has witnessed tangible pricing momentum and some tightening in terms and conditions.
Winners of the Strategic Risk Solutions, Inc. (SRS), 2019 Captivator Awards were recently announced and presented at the SRS Client Symposium in Chicago, Illinois. The awards recognize SRS client captives that have introduced innovative products or services to solve risk management challenges for their parent organization(s).
The National Association of Insurance Commissioners (NAIC) has released the complete 2018 "Market Share Reports for Property/Casualty Groups and Companies By State and Countrywide." This includes detailed information on market share and loss ratios for property-casualty companies by specific line of business for the top 125 groups and companies.
Demotech has released its "Analysis of Risk Retention Groups—First Quarter 2019," which reports on the overall financial performance of risk retention groups. The rating company's senior financial analyst, Douglas Powell, has concluded that risk retention groups "continue to collectively provide specialized coverage to their insureds while remaining financially stable."
The National Association of Insurance Commissioners has approved revisions to the Credit for Reinsurance Model Law and Regulation. The changes pave the way for implementation of covered agreements with the European Union and United Kingdom by making the models consistent with provisions of the covered agreements concerning reinsurance collateral requirements.
The year-end 2018 statutory filings for the US property-casualty industry showed a year-over-year 69 percent increase in net income to $59.2 billion in 2019, owing to lower losses from catastrophic events, favorable development of prior years' loss reserves, and higher net investment income.
Lloyd's has formed global and London advisory committees to support its strategy toward "nimbler and faster [offerings] … supported by technology, innovation, and flexible, responsive capital." Members of the advisory committees include global insurance industry heavyweights.
Don't miss the July issue of "Captive Insurance Company Reports" ("CICR"), where Anne Marie Towle of Marsh Captive Solutions discusses keys to the success of women in the captive insurance industry.
International Risk Management Institute, Inc. (IRMI), has announced a partnership with Zywave, a leading InsurTech provider.
American International Group, Inc. (AIG), has formed AIG Re to consolidate its reinsurance operations into one global business. AIG has appointed Christopher Schaper as CEO of AIG Re.
Direct premiums written in the US cyber insurance market have more than doubled over a 4-year span, from $996 million in 2015 to $2 billion in 2018.
Scholarships for programs of study with the International Center for Captive Insurance Education (ICCIE) include Harry House Captive Insurance Scholarships and the Vermont Captive Insurance Association (VCIA) Distinguished Scholar Award. The application deadline for all scholarships is June 30, 2019. Award recipients will be announced in August during VCIA's annual conference.
Governor Phil Scott signed legislation on June 10 to enable InsurTech experimentation and innovation in Vermont. Among other things, the insurance and securities bill (S. 131) creates an InsurTech "sandbox," which will allow more research and development in this area with specific guidelines.
While only a small percentage of employers use their captive insurance companies to cover their cyber risks, the premiums flowing into captives to fund the coverage is soaring, according to a new analysis.