Industry News

  Energy Industry

Vermont To House New Captive Insurance Solution for Energy Sector

A new Vermont-domiciled captive insurance solution is available. The captive, eCaptiv LLC, will be funded through client participation and will provide auto liability, general liability, excess liability, and workers compensation coverages. The program will also offer "significant" excess reinsurance above captive retentions.
September 04, 2018 Read More
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Judging Environmental, Social, and Governance Factors in Credit Rating

There has been a shift in investor expectations in recent years, with shareholders judging companies on a broader spectrum of criteria, rather than solely on financial metrics, according to a new briefing by A.M. Best.
August 31, 2018 Read More
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Atlas Insurance Management Continues To Equip NCCIA Board

At the North Carolina Captive Insurance Association (NCCIA) conference, Martin Eveleigh, chairman of Atlas Insurance Management, received the Distinguished Service Award. As Mr. Eveleigh departs the NCCIA board of directors, Morgan Weatherly, a senior account manager at Atlas, will take up a position on the board beginning January 1, 2019.
August 30, 2018 Read More
  Emerging Leaders Summit

Elevate Your Career at the Emerging Leaders Summit

The fast-approaching Emerging Leaders Summit offers a forum where risk and insurance leaders can gain the expertise that they need to secure long-term industry success. Attend interactive sessions that are focused on a blend of technical education and professional development to become the "go-to" person in your company.
August 30, 2018 Read More
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September "CICR" Focuses on Risk Retention Groups

Don't miss the September issue of "Captive Insurance Company Reports (CICR)," where R.H. "Skip" Myers Jr., a prominent risk retention group (RRG) attorney and general counsel of the National Risk Retention Association, discusses the continued relevance and strength of RRGs.
August 29, 2018 Read More

Verisk and Omnitracs Provide Telematics Solutions for Trucking

Analytics provider Verisk has aligned with Omnitracs, LLC, a telematics service provider of large-fleet management and trucking solutions to transportation and logistics companies. Through the alliance, fleet owners can transfer driving data collected by their Omnitracs telematics platform into the Verisk Data Exchange to obtain safety feedback through focused analytics.
August 28, 2018 Read More
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RAA Reports Improvement in US Reinsurers' Operating Results

The latest Reinsurance Association of America (RAA) survey reveals that a group of 18 US property-casualty reinsurers wrote $30.1 billion of net premiums during the 6 months ended June 30, 2018, compared to $22.5 billion for the same period in 2017.
August 24, 2018 Read More
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129 Country Risk Assessment Reports Released by A.M. Best

Country Risk Assessment Reports providing economic, political, and financial system risk assessments on 129 countries were released by A.M. Best. A.M. Best determines country risk levels by assessing country-specific factors that could adversely affect an insurer's ability to meet its financial obligations. Country risk is evaluated and factored into all A.M. Best ratings.
August 23, 2018 Read More
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Strategic Risk Solutions Plants Roots in North Carolina

Dana Williams has joined captive management firm Strategic Risk Solutions (SRS) as its regional manager for North Carolina and Ohio. Ms. Williams will be based in a new SRS office in the Charlotte, North Carolina, area. The new office marks the firm's first permanent presence in North Carolina.
August 22, 2018 Read More
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A.M. Best Examines California Wildfires: The New Normal?

As housing development has ramped up in more rural areas and wildlands in California, the resulting wildfire threat for insurers has continued to grow. For homeowners and farmowners writers in California, direct losses incurred nearly quadrupled to $16.0 billion in 2017, compared with $4.2 billion in 2016.
August 21, 2018 Read More
  Survey Results-SF

Lloyd's Agencies: ILS Will Widen To Cover More Risks, Including Cyber

A survey by the Lloyd's Market Association of Lloyd's managing agents found that 80 percent of Lloyd's agencies want insurance-linked securities (ILS) as a permanent re/insurance market fixture. Of those surveyed, 100 percent believe ILS transactions will widen to cover more risks, including cyber and legacy business.
August 20, 2018 Read More
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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
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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
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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
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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