Industry News

  Captive Globe-SF

August "CICR" Examines Pinnacle's Position on RRGs

Don't miss the August issue of "Captive Insurance Company Reports" ("CICR"), where "CICR" Editor Emeritus Hugh Rosenbaum offers up his thoughts on Pinnacle Actuarial Resources, Inc.'s, latest position on risk retention groups (RRGs).
August 06, 2019 Read More
  Global Technology 480x377

Lloyd's Looks at Parametric Insurance and Smart Contracts

In a recent report, titled "Triggering Innovation—How smart contracts bring insurance to life," Lloyd's said smart contracts could be used to increase efficiency and add value for customers and help insurers offer customers better products and services.
August 06, 2019 Read More
  VCIA 2019 Conference-SF

Networking Underway at Vermont's Annual Captive Insurance Conference

The Vermont Captive Insurance Association (VCIA) 2019 Annual Conference is underway August 6–8 at the DoubleTree by Hilton in Burlington. VCIA is hosting 1,100 people from all over the world to experience the conference's high-quality educational offerings and take advantage of its numerous networking opportunities.
August 05, 2019 Read More
  Construction Workers at Site-SF

Artex Launches Construction Group Captive Insurance Program

Artex has officially announced the launch of a new group captive program designed specifically for construction companies within the United States.
August 02, 2019 Read More
  Cyber Hacking-SF

Cyber Insurance May Give "False Sense of Security" to Some Executives

Chief financial officers said that they expected their insurers to cover a wide range of cyber-attack-related losses despite some being nearly impossible to insure.
August 02, 2019 Read More
  Businesswoman Megaphone 480x377

CICA Task Force Will "Amplify Women" in the Captive Insurance Industry

The Captive Insurance Companies Association (CICA) has launched "Amplify Women™," a new task force focused on connecting women with opportunities for education, networking, and influence in the captive insurance industry.
August 01, 2019 Read More
  June-July 480x377

KBRA Comments on June–July Reinsurance Renewals

Kroll Bond Rating Agency (KBRA) found the property catastrophe reinsurance renewals among its rated property-casualty companies were in line with expectations for the June–July period.
August 01, 2019 Read More
  Arrows Pointing Up-SF

Captive Industry Financially Strong Amid Competitive Commercial Market

Even amid a highly competitive traditional commercial market, the captive insurance company industry financially remains very strong, according to a new A.M. Best Co., Inc., report.
July 31, 2019 Read More
  Cyber Criminal 480 x 377

IBM Study Shows Data Breach Financial Impact Felt for Years

IBM Security released its annual study examining the financial impact of data breaches on organizations. According to the report, the cost of a data breach has risen 12 percent over the past 5 years and now costs $3.92 million on average.
July 30, 2019 Read More
  Businessman holding hands out with globe, technology and "map" of network

InsurTech Investment Robust Second Quarter with Slow Evolution

InsurTech investment worldwide continued at high levels during the second quarter of 2019, according to Willis Towers Watson, marking the fourth consecutive quarter during which total new funding commitments exceeded $1.2 billion.
July 30, 2019 Read More
  Europe Continent 480x377

European Reinsurers May Claim Capital Credit from Guernsey Reinsurers

Clarification was recently given surrounding the ability for EU-domiciled insurers who have bought from a nonequivalent regime, such as Guernsey, to take credit in capital calculations for reinsurance under Solvency II regulations.
July 26, 2019 Read More
  Snow Cone 480 x 377

Caitlin Morgan To Manage the Kona Ice Franchise Cell Captive Program

Caitlin Morgan Captive Management will act as the captive manager for the Kona Ice franchise captive insurance program. Announced in June, the national program is offered by Great American Insurance Group's alternative markets division in cooperation with Cornerstone Insurance.
July 25, 2019 Read More
  Businessman Shaking Hands 480 x 377

July Proves To Be a Busy Month for DARAG Legacy Transactions

The Malta-based legacy acquirer, DARAG Group Limited (DARAG), has announced a number of transactions so far in July 2019, including US, UK, and Scandinavian deals.
July 25, 2019 Read More
  Hurricane-Koch Interview

Aaron Koch: ILS Will Continue To Play an Increasing Role for Captives

As part of our ongoing commitment to provide thoughtful commentary concerning issues impacting captives and the broader insurance markets, we spoke with Aaron Koch of Milliman's insurance-linked securities (ILS) group about the current state of affairs in the ILS market and how captives are utilizing this segment.
July 22, 2019 Read More
  The Word Legislation Surrounded by Question Marks

Lacking Widespread Support, RRG Expansion Legislation Unlikely

The introduction of legislation to allow risk retention groups (RRGs) to expand coverages they can offer to their policyholder-owners has yet to happen, and even when it does, observers believe it has little chance of winning congressional passage.
July 22, 2019 Read More
  Conceptual Image of Leadership 480x377

Artex Positions Itself for Growth with Senior Leadership Appointments

Artex Risk Solutions has made a number of key appointments within its international division, including Scott Cobon, Rob Eastham, Paul Eaton, and Mike Matthews.
July 19, 2019 Read More
  Protective Hands Around People Cutouts Joining Hands

Captive Insurance Pooling Is an Option for Covering Mass Shooting Attacks

Insurers have begun offering active assailant insurance coverage in the wake of a marked increase in mass shootings in the United States in recent years. In some cases, schools can seek solutions via captive insurance vehicles by pooling their liability exposure to these types of events with other schools.
July 18, 2019 Read More
  A blue paper umbrella reading "workers compensation" above a person and a roll of money

US Workers Compensation Market Remains on Track

Fitch Ratings reported the US workers compensation market is on track for a fifth consecutive year of underwriting profits in 2019 despite recent weakening in market fundamentals.
July 18, 2019 Read More

Insurance and Reinsurance Solution Launched for Midsized Captives

International Re (I–RE), the specialist captive insurance and reinsurance managing general agent, has established a midsized captive insurance and reinsurance solution, I–RE SA.
July 17, 2019 Read More
  Money graph

IVANS: Second Quarter Renewal Rates Show Continued Market Hardening

IVANS has announced the "IVANS Index: Premium Renewal Rate Index" results for second quarter 2019. The second quarter results showed continued market hardening across certain lines of commercial business.
July 16, 2019 Read More