Industry News

  Podcast Blue-SF

MSI Releases New Podcast Episode: "Captive Claims Processing for Dummies"

Management Services International (MSI) has just released its latest podcast episode, which is titled "Captive Claims Processing for Dummies" and is immediately available free of charge at the MSI podcast library.
April 03, 2019 Read More
  Vermont State House-SF

Vermont Changes Financial Examination Requirements for Captives

Captive insurance companies in Vermont will automatically be assured of more time between mandatory financial examinations under legislation given final approval March 28 by state lawmakers.
April 01, 2019 Read More
  Marijuana Shopping Cart

House Financial Services Committee Passes SAFE Banking Act

The House Financial Services Committee recently voted 45 to 15 to pass H.R. 1595, the Secure and Fair Enforcement (SAFE) Banking Act of 2019. The bill allows marijuana-related businesses in states with existing regulatory structures to access the banking system.
March 29, 2019 Read More
  Credit Rating 480x377

KBRA Affirms Rating for Fidus Re Series Notes

Kroll Bond Rating Agency (KBRA) has affirmed the long-term credit rating of AA with a Stable Outlook for Fidus Re Ltd.'s Series Notes. Build America Mutual Assurance Company sponsored the issuance of variable rate notes through an offshore (Bermuda) bankruptcy remote special purpose insurer, Fidus Re Ltd.
March 28, 2019 Read More
  CICR Image-SF

April "CICR" Provides Insights into Transportation RRGs

Don't miss the April issue of "Captive Insurance Company Reports" ("CICR"), where Jon Harkavy, general counsel at Risk Services, LLC, provides an insightful analysis of risk retention groups (RRGs) and the transportation sector.
March 27, 2019 Read More
  Arbitration 480x377

Gallagher Seeks To Compel Arbitration with 831(b) Captive Owners

In an effort to compel arbitration, Arthur J. Gallagher & Co. and other defendants recently made joint motions in response to a lawsuit seeking class status filed in December 2018 by a group of 831(b) captive owner plaintiffs. Eversheds Sutherland provides a brief description of the matter as it stands currently.
March 26, 2019 Read More
  WRCIC-2019-480x377

The West Is Best at the Western Region Captive Insurance Conference

Tee up your captive's future with the Arizona, Missouri, and Utah captive insurance domiciles at this year's 9th Annual Western Region Captive Insurance Conference scheduled for May 20–22 in Scottsdale, Arizona.
March 26, 2019 Read More
  Award Trophy

2019 RIMS Risk Manager of the Year Awarded to Luke Figora

RIMS, the risk management society®, has named Luke Figora, senior associate vice president and chief risk and compliance officer at Northwestern University, the 2019 Risk Manager of the Year. The 2019 Risk Management Honor Roll inducted David Stills, vice president, global risk management for Walmart Inc.
March 25, 2019 Read More
  Marijuana Seedling

Marijuana Industry Still Faces Significant Insurance Coverage Issues

The expansion and availability of medical and legalized recreational marijuana along with future growth projections position the marijuana industry as an emerging market for insurers, according to A.M. Best.
March 21, 2019 Read More
  Businesspeople Circle 480x377

Students from 9 University Teams To Compete at RIMS 2019

RIMS, the risk management society™, has selected nine universities to compete in Boston for the 2019 Spencer-RIMS Risk Management Challenge top honor.
March 19, 2019 Read More
  Arrows Pointing Up-SF

RAA Reports Improved US Reinsurer Operating Results Year over Year

The latest Reinsurance Association of America (RAA) survey reveals that a group of 17 US property-casualty reinsurers wrote $59.3 billion of net premiums during the 12 months ended December 31, 2018, compared to $45.3 billion for the same period in 2017.
March 19, 2019 Read More
  Contract Pen Sign 480 x 377

Hamilton Acquires Pembroke Managing Agency and Ironshore Europe

Bermuda-based Hamilton Insurance Group, Ltd. (Hamilton), is set to acquire Liberty Mutual Group's Pembroke Managing Agency Limited at Lloyd's and its Dublin-based Ironshore Europe DAC business.
March 15, 2019 Read More
  Bermuda EU Blacklist Press Conference

Bermuda Included in EU Tax Blacklist in "Error"

The European Union has updated its list of noncooperative tax jurisdictions. The so-called blacklist document identifies 15 countries for failing to meet agreed good tax governance standards. This year's list includes Bermuda, the world's largest captive domicile.
March 15, 2019 Read More
  Definition of Sexual Misconduct 480x377

Michigan State University Turns to Captive Insurance Following Scandal

In a recent Wall Street Journal article by Melissa Korn, titled "After Nassar Scandal, Michigan State Lacks Broad Sexual-Misconduct Insurance," it was reported that Michigan State University has turned to a captive insurance solution after finding itself without direct liability insurance for sexual-misconduct claims following the Larry Nassar sex-abuse scandal.
March 12, 2019 Read More
  Shape the Future 480x377

Now Underway, the CICA Conference Looks at Captives Shaping the Future

This year's Captive Insurance Companies Association (CICA) International Conference, "Captives: Shaping the Future," is now underway from March 10–12 at the JW Marriott Starr Pass Resort & Spa in Tucson. Some of the captive industry's best minds converge with CICA to examine captive solutions and strategies found in the opportunity-rich captive industry.
March 11, 2019 Read More
  Growth Plant Hand 480 x 377

Clyde & Co M&A Report Finds Reinsurers Using Diverse Growth Tactics

Clyde & Co reported that completed insurance industry mergers and acquisitions (M&A) worldwide remained robust in 2018 with a slowdown in dealmaking during the fourth quarter.
March 08, 2019 Read More
  Asia Pacific

Sigma: Economic Power Continues To Shift from West to East

According to the latest "sigma" report from Swiss Re, emerging markets will remain the growth engine for the global economy and insurance industry over the next decade.
March 07, 2019 Read More
  Increasing Graph

IVANS: Commercial Lines Renewal Rates Experience Positive Changes

IVANS has announced the "IVANS Index: Premium Renewal Rate Index" February results. Year over year, February results showed an increase in premium renewal rate change across all major commercial lines of business except workers compensation.
March 07, 2019 Read More
  Change of Plan-SF

Aon Drops Its Plans To Buy Willis Towers Watson

A day after Aon PLC said it was considering buying rival Willis Towers Watson PLC, Aon disclosed Wednesday that it is dropping the plan, which would have resulted in the creation of the world's largest captive insurance company manager.
March 06, 2019 Read More
  handshake blockchain-SF

A Blockchain-Fueled Bermuda Insurance Exchange To Go Live in 2019

The Bermuda Insurance Exchange, a blockchain risk and capital exchange for the insurance and reinsurance market, will be launched later this year.
March 06, 2019 Read More