Industry News

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KBRA Updates Affordable Care Act Research

Kroll Bond Rating Agency (KBRA) recently released an update to its research report on the Affordable Care Act (ACA) outlining the continuing collapse of the healthcare Consumer Operated and Oriented Plan programs that were created and funded as part of the ACA. The latest report is titled "No Relief in Sight for Affordable Care Act Insureds."
July 11, 2018 Read More
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FERMA Puts Forward Priorities for Artificial Intelligence Expert Group

The European Commission appointed 52 experts to the new High-Level Group on Artificial Intelligence. The group includes representatives of academia, business, and civil society that will support the implementation of the European Commission's communication on "Artificial Intelligence for Europe" that was published in April 2018.
July 10, 2018 Read More
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M&A Performance in Freefall, but Overall Volume on Track

In the second quarter of 2018, the global mergers and acquisitions (M&A) market recorded its worst performance since the launch of the Quarterly Deal Performance Monitor by Willis Towers Watson in 2008. So far, the overall M&A volume remains on track to beat the post-crisis high of 2015.
July 10, 2018 Read More
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Index-Based Microinsurance Market Expands in Central America

The Microinsurance Catastrophe Risk Organization, a reinsurance company incorporated in Barbados, has launched Produce Seguro in El Salvador, an index-based insurance product that protects low-income families against natural disasters.
July 09, 2018 Read More
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Demotech Releases First Quarter 2018 Financial Analysis of RRGs

Demotech has released its "Analysis of Risk Retention Groups—First Quarter 2018," reporting on the overall financial performance of risk retention groups (RRGs). Demotech's senior financial analyst, Douglas Powell, has concluded, "Despite political and economic uncertainty, RRGs remain financially stable and continue to provide specialized coverage to their insureds."
July 06, 2018 Read More
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Lloyd's Lab Embarks on Digital Evolution

For the first time in its 330-year history, Lloyd's of London is opening its doors to the global tech start-up and entrepreneur community, giving unparalleled access to the world's largest market for specialist insurance and reinsurance in support of its digital evolution.
July 05, 2018 Read More
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Total Cost of Risk Declines for Fourth Year—A New Normal?

In the face of record-setting natural catastrophes and an ever-evolving risk environment, the average total cost of risk trended lower for the fourth year in a row, according to the newly released "2018 RIMS Benchmark Survey."
July 05, 2018 Read More
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FERMA Launches First European Lifelong Learning Risk Management Program

The Federation of European Risk Management Associations (FERMA) has launched the first European program of continuous professional development for risk management as part of its rimap professional certification.
July 03, 2018 Read More
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Lloyd's Top Priorities: Modernization, Underwriting Systems, and Brexit

Market modernization, underwriting systems upgrades, and Brexit preparations are the top three 2018 priorities of Lloyd's market chief operating officers, a survey commissioned by the Lloyd's Market Association reveals.
July 03, 2018 Read More
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"CICR" Provides a Local Perspective on Microsoft's Regulatory Problems

The July issue of "Captive Insurance Company Reports (CICR)" provides an insider's perspective from Steven Beeghly, Esq., of Seattle-based Kreger Beeghly, PLLC on the recent cease and desist order issued by the Washington State insurance commissioner against Microsoft to stop using one of its captive insurance companies.
July 02, 2018 Read More
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IUA Puts Out a Brexit Continuity Clause

The International Underwriting Association of London (IUA) has published the Brexit Contract Continuation Clause to assist companies in managing insurance contracts as the United Kingdom leaves the European Union.
June 29, 2018 Read More
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JLTCM Completes 2 Noteworthy Catastrophe Bond Transactions

Jardine Lloyd Thompson Capital Markets, Inc., (JLTCM) recently completed two private placement catastrophe bonds: Oak Leaf Re 2018–1, which closed at $45.26 million, and Market Re 2018–1, which closed at $84 million.
June 28, 2018 Read More
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Corporate Governance Considerations for Captive Insurers

Do you serve as an officer or on the board of directors for a single-parent captive, a risk retention group, another group captive, or a commercial insurer? Help us compare company governance readiness in the insurance industry by taking a quick survey, and get access to a free corporate governance report!
June 26, 2018 Read More
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British Virgin Islands and Montserrat Join CCRIF

The British Virgin Islands and Montserrat have joined CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company), bringing CCRIF membership up to 19 countries.
June 25, 2018 Read More
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Bermuda Captive Conference BestTV Episodes Available

The Bermuda Business Development Agency has provided a summary of the latest A.M. BestTV episodes coming out of this month's 14th annual Bermuda Captive Conference at the Fairmont Southampton.
June 22, 2018 Read More
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The DOL Issues Final Rule on Association Health Plans

The US Department of Labor (DOL) issued its final rule on association health plans (AHPs) in "Definition of 'Employer' under Section 3(5) of ERISA—Association Health Plans." According to the DOL, AHPs permit small employers and self-employed individuals to join together in purchasing health insurance.
June 21, 2018 Read More
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KBRA Reports on Eurozone Investment Flow

Kroll Bond Rating Agency (KBRA) recently released a new macro-market commentary titled "Eurozone Investment: Quality over Quantity." The report discusses Europe's relatively disappointing aggregated investment flow data since the global financial crisis.
June 20, 2018 Read More
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US Tax Court Finds Deficiencies in "Reserve Mechanical" Captive Arrangement

In a new opinion, the US tax court found that Reserve Mechanical Corp., a captive insurer incorporated in Anguilla and owned by Peak Casualty Holdings, LLC, failed to qualify as an insurance company for federal income tax purposes under Internal Revenue Code section 501(c)(15).
June 19, 2018 Read More
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Swiss Re's Latest Sigma Study Focuses on Construction Sector

According to the latest sigma study from Swiss Re, global engineering insurance underwriting performance has deteriorated recently, with premium rates declining and claims rising in some construction sectors. Urbanization, the replacement of aging infrastructure, and the development of renewable energy sources should all promote construction spending and engineering insurance demand.
June 18, 2018 Read More
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Bermuda Captive Conference Draws Owners and Risk Managers

More captive insurance company owners and corporate risk managers seeking captives attended the Bermuda Captive Conference this year compared to previous years. The 3-day conference attracted over 800 registered attendees from the United States, Canada, Latin America, and the United Kingdom, as well as Bermuda.
June 15, 2018 Read More