Industry News

  Canada Flag Truck SF

Commercial Auto Group Captives Set To Form in Canada

In an effort to combat commercial auto trends in Canada, eCaptiv and a group of independent insurance brokers will form two group captives.
February 22, 2019 Read More
  Cyber Security-SF

Intelligence Sharing Across Organizations Next Step in Cyber Security

Aon recently released a cyber risk report describing the greatest cyber-security threats and challenges now faced by organizations. The report considers that as companies continue to use technology to speed up the transfer of information, they create game-changing business opportunities as well as increased cyber risk.
February 22, 2019 Read More
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The Challenge of Harnessing Data within Healthcare Liability Captives

Breaking down claims data silos to bring various data sets together in healthcare systems requires a systematic approach, according to a panel of experts who recently spoke at the World Captive Forum.
February 21, 2019 Read More
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DC Mayor Establishes Regulatory Sandbox and Innovation Council

Washington, DC, Mayor Muriel Bowser recently established the District of Columbia Financial Services Regulatory Sandbox and Innovation Council, which will include captive insurance industry representation.
February 21, 2019 Read More

MSI Releases New Podcast: "Captive Insurance for Dummies"

Management Services International (MSI) has just released its first podcast, titled "Captive Insurance for Dummies," which is immediately available free of charge from the MSI podcast library.
February 20, 2019 Read More
  Company Rating

Bermuda Runoff Reinsurer Premia Re A- Rating Affirmed by KBRA

Kroll Bond Rating Agency (KBRA) has affirmed the financial strength rating of A- of Premia Reinsurance Ltd., a Class 4 Bermuda specialty reinsurer focused on acquiring nonlife runoff liabilities. KBRA believes its sound capitalization is sufficient to support the company's planned acquisition strategy of runoff liabilities in the medium term.
February 18, 2019 Read More
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FERMA: AI Has Growing Implications for Risk Management

The Federation of European Risk Management Associations (FERMA) said that it welcomes the European Commission's draft guidelines on artificial intelligence (AI) ethics. FERMA believes that the development and application of AI have growing implications for European risk managers.
February 15, 2019 Read More
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Registration Now Open for Bermuda Captive Conference 2019

Registration is now open for the 15th Bermuda Captive Conference. The 3-day conference, planned for June 10−12, is staged at the Fairmont Southampton and is Bermuda's largest industry event.
February 15, 2019 Read More
  Handshake Merger-SF

USI To Acquire U.S. Risk

USI Insurance Services (USI) will acquire U.S. Risk Insurance Group (U.S. Risk), one of the nation's largest property and casualty program and specialty brokerage firms. The transaction is expected to close in the second quarter of 2019.
February 14, 2019 Read More
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Capstone Announces Captive Insurance Portfolio Acquisition Negotiations

In a recent statement, Capstone Associated Services, Ltd., revealed that it is currently in negotiations to acquire captive insurance portfolios from captive managers and is in contact with sponsors looking to either exit the small captive business or combine forces.
February 13, 2019 Read More
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Large Medical Malpractice Claims Becoming More Frequent and More Costly

A new report issued by CRICO Strategies, "Medical Malpractice in America: A 10-year Assessment with Insights," examines national trends in claims frequency, payment, and root causes of preventable harm.
February 12, 2019 Read More
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ICCIE Update: 17 ICCIE Trained Organizations and Counting

The International Center for Captive Insurance Education's (ICCIE) website now features a page that shows which companies have qualified, to date, as ICCIE Trained Organizations. The page will be updated as companies are added to the list.
February 12, 2019 Read More
  Crumbling House Foundation-SF

Federal Relief Sought for Crumbling Foundations

Two bills recently introduced in the US Senate seek funding from the Federal Emergency Management Agency and US Department of Housing and Urban Development to provide relief for homeowners and businesses in Connecticut and other states with crumbling foundations.
February 11, 2019 Read More
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IVANS: Commercial Lines Renewal Rates Experience Negative Changes

IVANS has announced the "IVANS Index: Premium Renewal Rate Index" January results. Month over month, January experienced a negative change in average premium renewal rate change across the majority of commercial lines.
February 07, 2019 Read More
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February "CICR" Looks at the Recent Class Action Suit Against Artex

Don't miss the February issue of "Captive Insurance Company Reports" ("CICR"), which looks at the recent class action complaint brought against Artex Risk Solutions.
February 06, 2019 Read More
  Flood Houses

FEMA Places Reinsurance for Flood Risk Third Consecutive Year

For the third consecutive year, the Federal Emergency Management Agency (FEMA) has completed placement of reinsurance coverage to help manage the National Flood Insurance Program flood risk. Participating in the $1.32 billion placement were 28 private reinsurers.
February 04, 2019 Read More
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IVANS: Commercial Lines Renewal Rates Increased Last Quarter

The "IVANS Index: Premium Renewal Rate Index" year-end 2018 results for the fourth quarter showed an increase in the premium renewal rate change average across nearly all major commercial lines compared to the third quarter; however, the workers compensation average premium renewal rate change dropped and remained in negative territory.
February 01, 2019 Read More
  World Captive Forum-Square-SF

Now Underway, the World Captive Forum Addresses New and Emerging Risks

Now underway and celebrating its 28th year, this year's World Captive Forum addresses new and emerging risks facing companies and organizations worldwide, demonstrating how captives can offer solutions that may not be available in the traditional insurance marketplace.
January 30, 2019 Read More
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Cyber Risks a Top-Level Concern for European Risk Managers

Findings from the World Economic Forum's (WEF) "Global Risks Report 2019" were published this month. While rising cyber dependency trended high in terms of near-term risks, environmental risks dominated respondents' long-term concerns, according to the WEF.
January 29, 2019 Read More
  CICA Essay-SF

CICA Essay Contest Promotes Captive Insurance Opportunities

As the insurance industry looks for new talent, the Captive Insurance Companies Association (CICA) is making its own effort to promote the next generation of insurance industry talent with a captive insurance essay contest. Read what some of the essay contest finalists have to say about why they participated.
January 28, 2019 Read More