Industry News

  natural disaster icons-SF

Global Economic Losses $36 Billion So Far in 2018, over Half Insured

Swiss Re said its preliminary sigma estimates surrounding global economic losses from natural catastrophes and man-made disasters in the first half of 2018 were $36 billion. According to Swiss Re, this figure is well below the 10-year average of $125 billion in economic losses.
August 17, 2018 Read More
  Businessman on Rocket

Captive Alternatives One of Fastest-Growing Private Companies in the United States

Atlanta-based Captive Alternatives is number 2,971 on "Inc." magazine's 37th annual Inc. 5000, which ranks the nation's fastest-growing private companies. This is the second time Captive Alternatives appears on the Inc. 5000, with 3-year revenue growth of 137 percent.
August 16, 2018 Read More
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FERMA Recommends Nonfinancial Reporting as a Regular Business Process

The Federation of European Risk Management Associations (FERMA) has recommended to the European Commission that companies should report nonfinancial matters such as environmental and social performance as a regular business process and that reporting risks connected with nonfinancial elements should be aligned with the organization's objectives.
August 13, 2018 Read More
  Award Trophy

Brady Young Receives VCIA's Industry Service Award

At its annual conference, the Vermont Captive Insurance Association (VCIA) presented its industry service award to Brady Young of Strategic Risk Solutions. Recipients are chosen annually by the VCIA Board of Directors in recognition of VCIA members that have best supported the captive insurance industry and made contributions to its overall vitality and general welfare.
August 10, 2018 Read More
  Wrap-Up Guide

IRMI's "Wrap-Up Guide" Addresses Controlled Insurance Program Changes

Implementing a wrap-up or owner controlled insurance program for construction projects is a common approach to improving project safety, reducing the cost of risk, and ensuring all contractors are covered under a broad liability insurance program. IRMI's "Wrap-Up Guide" will help you avoid coverage gaps and common problem areas.
August 09, 2018 Read More

The NAIC To Establish Cannabis Insurance Working Group

The National Association of Insurance Commissioners (NAIC) will establish a Cannabis Insurance Working Group to address the issue of insurance availability for the legalized cannabis industry. The group will work to better understand where insurance coverage gaps exist and to develop best practices for state insurance regulators.
August 09, 2018 Read More

Congratulations to Sponsors Recognized with US Captive Awards

This year's US "Captive Review" Awards recognized, both on the short list and as award winners, 9 sponsors in 11 award categories. According to the official website, the awards recognize captive insurance products and services providers offering high levels of excellence over the past year.
August 08, 2018 Read More
  College Student at Conference-SF

Strategic Risk Solutions Initiates Collegiate Captive Scholar Program

Strategic Risk Solutions has initiated a new program to expose undergraduate college students to learning opportunities in the captive insurance industry. Initially, the program will be focused on underwriting the cost for selected students to attend captive conferences to participate in educational sessions and meet captive industry professionals.
August 07, 2018 Read More
  Exceptional Rating 480x377

A.M. Best-Rated Captives Show Strong Performance Despite Reduced Profit

A.M. Best has released its latest special report on the financial performance of A.M. Best-rated US captives. According to the report, Best-rated captives remained exceptionally strong in 2017 and continued to outperform their counterparts in the commercial casualty sector despite pretax profit decline of nearly 18 percent.
August 06, 2018 Read More
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Out-of-State Attendee List Grows Ahead of NCCIA Captive Conference

In a recent communication from the North Carolina Captive Insurance Association (NCCIA), the organization said that in just 4 weeks the largest assembly of the captive industry in the Southeastern United States will get underway with the opening of the NCCIA Annual Conference in uptown Charlotte.
August 03, 2018 Read More
  Check mark 480x377

KBRA Releases Rating Report for Watford, an Arch Partner

Kroll Bond Rating Agency (KBRA) has released its rating report for Watford Holdings. Watford is a total return global re/insurer that combines underwriting medium- to long-tail casualty risks with an investment strategy focused on noninvestment grade credit assets to generate attractive operating returns.
August 03, 2018 Read More
  Business People Talking

Discuss Group Captives with Atlas Insurance Management

This year's upcoming fourth annual North Carolina Captive Insurance Association (NCCIA) conference will take place on August 20–22 at the Le Méridien in Charlotte. Chairman of Charlotte-based Atlas Insurance Management and NCCIA board member, Martin Eveleigh, will be attending the conference with the entire Atlas team.
August 02, 2018 Read More
  Risk Profile

WTW Develops New Financial Modeling Tool for Captive Insurers

Willis Towers Watson (WTW) has developed a new financial modeling tool for captive insurers called Captive Quantified. According to WTW, this is a first-of-its-kind digital tool to help organizations analyze financial feasibility and future profitability of their captive insurance strategies.
August 01, 2018 Read More
  Upward trend 2018-SF

Insurance Sector M&A Deal Value Increases 183 Percent Year over Year

According to a recent PwC report, the mergers and acquisitions (M&A) deal value in the insurance sector practically tripled during the first half of 2018 compared with the same period in 2017. The report attributes the heightened value to mega-deals and federal tax reform effects.
July 30, 2018 Read More
  Natural Disasters 480x377

2018 Natural Disaster Losses 64 Percent Lower Than 10-Year Average

The Aon Reinsurance Solutions "Global Catastrophe Recap: First Half of 2018" report reveals that global economic losses from natural disasters for the first half of 2018 were estimated at $45 billion—64 percent lower than the 10-year average of $124 billion and 48 percent lower than the 18-year average of $87 billion.
July 27, 2018 Read More
  CICR Image-SF

"CICR" Delves into "Reserve Mechanical" Small Insurance Company Case

Don't miss the August issue of "Captive Insurance Company Reports (CICR)" where Bruce Wright and Saren Goldner of Eversheds Sutherland provide an analysis of the recent small insurance company case, Reserve Mech. Corp. v. Commissioner.
July 27, 2018 Read More
  Cyber Security-SF

MSI To Discuss Cyber Security at North Carolina Captive Conference

The North Carolina Captive Insurance Association (NCCIA) is hosting its fourth annual conference on August 20–22 at the Sheraton, Le Méridien, in Charlotte. Over 200 captive industry professionals are expected to attend. Jeremy Colombik, president of Management Services International (MSI) and former chairman of the NCCIA Board, will be speaking on cyber security at the conference.
July 26, 2018 Read More
  Flooded Residential Street 480x377

NFIP Reauthorized with Continued Calls for Reform

The US House of Representatives has extended the National Flood Insurance Program (NFIP) until November 30, 2018. Many inside and outside of the insurance industry have pushed for long-term reforms to the program, such as enhancing existing technology, streamlining and simplifying the NFIP for policyholders, and developing private market options.
July 26, 2018 Read More
  Negative Trend 480x377

Competition Drives Down Some Property Catastrophe Reinsurance Pricing

According to the latest first view report from Willis Re, titled "1st View New Normal Emerges," momentum for rate increases on loss-free reinsurance accounts dissipated during the June and July property catastrophe renewals, and, in some cases, pricing declined.
July 24, 2018 Read More
  Emerging Leaders Summit

Keeping Young People Engaged: Emerging Leaders Summit Fast Approaching

International Risk Management Institute, Inc., and Young Risk Professionals are excited to announce that registration is now open for the Emerging Leaders Summit, to be held in Dallas, Texas, on September 10, 2018.
July 24, 2018 Read More