Operations and Management

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What To Include in a Captive Insurer's Claims Handling Procedures

A captive insurer's claims handling procedures should discuss all stages that are in the life cycle of a claim, according to Lynn Sheils, senior vice president and general counsel of EWI Reinsurance. Stages include how the notice will be handled, investigation standards, coverage evaluation, reserving approach, and claim closure philosophy.
October 01, 2018 Read More
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FinTech and Captive Insurance Revisited

How has FinTech impacted captive insurers? We look at key trends and changes reshaping the industry, including blockchain. The good news is that some captives are embracing this new future.
September 17, 2018 Read More
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AI and Captive Insurance—What Does the Future Hold?

Artificial intelligence (AI) and captives—what does the future hold? A look at current trends in the use of AI by financial services and specifically the insurance industry. We explore how these trends may affect different segments of the captive industry.
August 27, 2018 Read More
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Captive Insurers Should Review Their Risks at Least Every 5 Years

According to Karin Landry, a managing partner with Spring Consulting Group LLC in Boston, after captive insurance companies are set up, their parents should periodically review the risks their captives are covering. At a minimum, this assessment should be every 5 years and, in some cases, more frequently.
August 14, 2018 Read More
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Innovation and Productivity in Captive Insurers

Are captive insurers participating in the innovation and productivity changes reshaping the insurance industry? We discuss some recent trends and look at three key technologies impacting the insurance industry.
July 25, 2018 Read More
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What's Your Captive's Cyber-Security Risk Profile?

Cyber-security threats continue to grow. What's your captive's cyber-security risk profile? Developing a risk profile provides your captive with a clear illustration of the threats it faces and enables you to begin a proactive process to counter these risks.
July 18, 2018 Read More
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Parallel Cloud Computing: Making Massive Actuarial Risk Analysis Possible

Machine learning is spreading quickly across many industries, including the insurance sector with applications in actuarial analysis, and is showing promising results for making better predictions and automating manual tasks. Advances in cloud computing provide the ability to speed up the time it takes to do so.
July 16, 2018 Read More
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Data Analytics for Captive Insurers—Key Considerations

Data analytics and predictive modeling continue to evolve. Captive insurers are advised to understand the concepts and costs involved. Data analytics can help optimize the captive's risk appetite and risk portfolio.
July 02, 2018 Read More
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Watch Out for this Captive Insurance Claims Handling Pitfall

Lynn Sheils, general counsel of EWI Reinsurance, warns that the most obvious pitfall a captive management team can run into is paying claims that are not covered under the captive policy. There is often an overlap of staff, directors', and officers' responsibilities between the captive owner (parent) and the captive itself. Second, the captive insurer exists at the discretion of the parent, and it is often difficult for the captive to tell the parent that a claim is not covered.
May 14, 2018 Read More
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Expected Adverse Development as a Measure of Risk Distribution

Risk distribution is a prerequisite for an insurance transaction to be deemed to have occurred and therefore achieve deductibility of premium for tax purposes. Captive owners seeking to determine whether their captive has sufficient risk distribution have a new methodology to consider in expected adverse development.
April 25, 2018 Read More
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Written Claims Handling Procedures for Captive Insurers

The best practice for a captive insurer is to have claims handling procedures, says Lynn Sheils, senior vice president and general counsel of EWI Reinsurance. The procedures should discuss all stages in the life cycle of a claim, including how notice will be handled, investigation standards, coverage evaluation, reserving approach, and claim closure philosophy.
April 02, 2018 Read More
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Should the Captive Markets Consider Mergers and Acquisitions?

Captive.com Editor John Foehl takes a look at the mergers and acquisitions environment and whether there is any role for captive insurers. Should captive markets consider mergers and acquisitions?
March 26, 2018 Read More
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Where Things Stand—Insurance, Reinsurance, and Alternative Capital

As we approach the end of the first quarter of 2018, where do insurance market conditions stand? What are the forces driving market conditions, and what do captive insurers need to know?
March 07, 2018 Read More
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What Are the Key Claims Handling Considerations for Captive Owners?

When a captive insurer is considering whether to self-administer claims or to handle with an outside third-party administrator, Lynn Sheils, general counsel of EWI Reinsurance, advises that the captive owner should be thinking about three key areas: insured coverage lines, anticipated claims volume, and required captive resources.
March 05, 2018 Read More
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Common Blind Spots When Hiring New Employees

You may not realize that your hiring managers have blind spots when hiring new employees for job openings. It is important to identify these blind spots, though, because a hiring decision based on subjective opinion could set your company back and prove costly.
February 05, 2018 Read More
  Medical Team

Healthcare Captive Insurance: Claims Opening the Door to the Future

Healthcare captive insurers underwriting medical professional and general liability for acute care facilities, physician practices, managed care organizations, and other healthcare services providers have a long history of managing and adjusting claims. In this article, Michael Maglaras discusses basic elements of a good internalized healthcare provider-owned captive claims management process.
January 29, 2018 Read More
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Blockchain: Accessing Its Value

Many readers may be inclined to ignore blockchain concepts or defer consideration until clearer information and evidence are available. However, disregarding blockchain rather than actively understanding it could put an organization, including captive insurers, at a competitive disadvantage compared to others who move to embrace its full context.
January 15, 2018 Read More
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2017 "Workers' Compensation Benchmarking Study" Releases Best Practices Report Card

The recent 2017 "Workers' Compensation Benchmarking Study" measures industry-wide advancement in claims management over the past 3 years. The study validates how and what higher performers are doing differently than lower-performing peers to reveal a robust profile of the successful claims organization.
January 02, 2018 Read More
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How To Manage a Captive More Efficiently

Managing a captive efficiently comes down to having a streamlined approach. Captive managers coordinate multiple pieces, such as actuaries, auditors, regulatory bodies, and financial statement preparation. A captive manager may want to look at a firm to help with back office support, according to Jeremy Colombik of Management Services International.
December 18, 2017 Read More
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Assessing and Quantifying Cyber-Security Exposure and Cyber-Risk

As cyber-attacks occur with increasing severity and frequency, cyber-risk has emerged as a critical risk exposure. Furthermore, current and future regulation will require a reliable, evidence-based approach to risk assessment. In this article, Milliman outlines actionable steps for companies looking to assess and quantify their cyber-exposure.
December 11, 2017 Read More