Industry News

  Cyberrisk

In the Future, 34 Percent of Captive Insurers Expect To Cover Cyber Risks

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 Read More
  Business Analysis Concept SF

Captives Are the Most Popular Method of Alternative Risk Financing

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 Read More
  Blockchain Startup

Marsh To Roll Out Blockchain Platform for Proof of Insurance

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 Read More
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Demotech Releases Year-End 2018 Financial Analysis of RRGs

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 Read More
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DOL's Automatic Enrollment Decision Could Boost LTD Participation

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 Read More
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Aon Study Reveals Progress on Global Benefits Governance

An Aon study found that companies worldwide are making progress with global governance of employee benefits. The study explored key issues surrounding what companies can do to better align benefits with organizational strategy and how they can better manage the costs and risks associated with global benefits.
April 26, 2019 Read More
  Statistics Improvement - SF

Fitch: US P&C Industry Records Combined Ratio Improvement for 2018

The US property-casualty (P&C) industry returned to a modest statutory underwriting profit in 2018, following 2 consecutive years of combined ratios above 100 percent, according to Fitch Ratings.
April 25, 2019 Read More
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Total Reinsurance Capital Down While Alternative Capital Is Up

In its latest biannual "Reinsurance Market Report," Willis Re said total capital dedicated to the global reinsurance industry was $462 billion at the end of 2018. The findings showed that while dedicated reinsurance capital was down 5 percent, alternative capital grew 6 percent in 2018.
April 25, 2019 Read More
  Three Arrows in a Target-SF

Marsh, Guy Carpenter, and JLT To Form Carpenter Marsh Fac Re

Marsh and Guy Carpenter have announced plans to combine their Latin American facultative reinsurance operations with Jardine Lloyd Thompson Group (JLT), which was officially acquired by Marsh on April 1, 2019.
April 24, 2019 Read More
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IVANS: First Quarter Renewal Rates Experience Continued Increase

IVANS has announced the "IVANS Index: Premium Renewal Rate Index" results for first quarter 2019. The first quarter results showed an increase in premium renewal rate change average across commercial auto, businessowners policy, umbrella, and commercial property compared to fourth quarter 2018.
April 23, 2019 Read More
  Golden Scales of Justice-SF

Syzygy Captive Not in the Business of Insurance, According to Tax Court

In Syzygy Ins. Co. v. Commissioner, T.C. Memo 2019–34, the Tax Court considered yet another case involving a company that had elected to be taxed under section 831(b) of the Internal Revenue Code of 1986.
April 18, 2019 Read More
  David KirkupF

David Kirkup—Captive Insurance Person of Interest

As part of our ongoing commitment to provide thoughtful commentary concerning issues impacting captives and the broader insurance markets, we spoke with David Kirkup. Mr. Kirkup serves as chief operating officer and chief financial officer for Captive Alternatives. We had an in-depth conversation about the current state of affairs in the Puerto Rico captive domicile.
April 17, 2019 Read More
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Generali Employee Benefits Applies Blockchain Technology to Captives

Generali Employee Benefits and Accenture are set to provide a blockchain solution for the employee benefits industry. Through blockchain, captive insurance companies or pooling services participating in the reinsurance process will access the same data and reduce processing errors through the use of smart contracts and automated reconciliation.
April 16, 2019 Read More
  Business Leader in Front-SF

France Develops Its ILS Market with First Reinsurance Sidecar

France has moved to develop its insurance-linked securities (ILS) market with 157 Re, its first reinsurance sidecar.
April 15, 2019 Read More
  natural disaster icons-SF

Secondary Perils Account for 60 Percent of NatCat Losses in 2018

In its latest "sigma" report, Swiss Re revealed that the natural catastrophe (NatCat) loss experience of the last 2 years is a wake-up call for the insurance industry, highlighting a trend of growing devastation wreaked by so-called secondary perils.
April 11, 2019 Read More
  BCC Keynote Speakers

The Bermuda Captive Conference Announces 2 Keynote Speakers

Keynote speakers at this year's Bermuda Captive Conference will be YouTube comedian Tripp Crosby and Executive Chair of the Bermuda Monetary Authority Jeremy Cox. Now in its 15th year, Bermuda's conference will be held from June 10–12 at the Fairmont Southampton.
April 09, 2019 Read More
  Cyber Security-SF

FERMA Voices Concern over ISO's Proposed Cyber Insurance Guidelines

The Federation of European Risk Management Associations (FERMA) said that the International Organization for Standardization (ISO) failed to obtain adequate input from the insurance industry while developing its proposed cyber insurance guidelines.
April 09, 2019 Read More
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Department of Labor ExPro Option for Captive Insurers Remains on Hold

A US Department of Labor (DOL) suspension of a regulatory procedure that employers have used for years to get quick DOL review of their applications to fund employee benefit programs through their captive insurance companies remains on hold with no word yet on when the suspension will be lifted.
April 05, 2019 Read More
  Tornado 480x377

2017 & 2018: Largest Back-to-Back Insured Tornado Losses in US History

The latest research report from Kroll Bond Rating Agency, titled "Insured Losses Rising for Tornadoes," looks at the rising risks of tornadoes.
April 05, 2019 Read More
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2 Former Insurance Commissioners To Support eCaptiv Progression

Two former insurance commissioners join Energi's board of directors to bolster the organization's progression into providing captive insurance programs through eCaptiv LLC.
April 04, 2019 Read More